It was a boring sideways morning of trading before Janet Yellen’s comments at the Economic Club of New York. In her speech Yellen said the Fed has a “continuing commitment” to support economic recovery. It looks like this is what traders wanted to hear as the markets rallied into the close with stocks ending higher for the third consecutive day.
The S&P ended the day up 19.25 points and the DOW had an impressive triple digit day, up 162 points.
Markets To Watch
Markets To Watch
Google (GOOG) reported disappointing numbers after the bell today. After announcing worse than expected sales, GOOG was trading down more than -5% in after hours trading.
Just yesterday Yahoo (YHOO) beat analyst expectations and finished today’s session up +6.26% at $36.35 a share. The last Power Crossover Methodsignal for YHOO was a Sell Signal on 3/24/14. After hitting the $32.85 Average Daily Range target, we’re now back at pre-signal levels. We have 2 Power Crossover indicators pointing to a possible uptrend but we’ll need to wait for all 3 for us to be bullish the stock.
This Week’s Economic Calendar
This Week’s Economic Calendar
Real Time Economic Calendar provided by Investing.com.
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