Dow up 162 points after Yellen’s comments

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Market Recap For Wednesday, April 16th 2014

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 Method signal 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.


Power Crossover Signals


Power Crossover Signals

The signals above are derived based on the rules of our Power Crossover Method.
Rockwell Trading Club - DVD 27: Power Crossover Strategy
Click here if you would like to learn more about the Power Crossover Method.

No representation is being made that any account will or is likely to achieve profits or losses similar to those shown above. The past performance of any trading system or methodology is not necessarily indicative of future results. Have a great trading week!


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