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Yellen is shaking up the markets

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Market Recap For Wednesday, May 7th 2014

It was a wild ride in the markets today, with stocks selling off during Janet Yellen’s testimony. The morning session sell-off produced a nice Simple Strategy Sell Signal in the E-Mini S&P, and it looked like it was going to be another down day in the markets. But buying picked up mid-day, and with a rally into the close the S&P was able to finish near session highs.

The S&P ended the day up 10.50 points and the DOW finished 118 points higher. Tech stocks never quite recovered from early morning losses, and the NASDAQ ended the day slightly lower, down -13 points.

Fed Chair Janet Yellen’s testimony resumes tomorrow at 9:30am ET before the Senate Budget Committee.

Markets To Watch

Markets To Watch

Verizon (VZ) was one of two stocks that triggered a buy signal today based on Power Crossover Method rules.

Using the Average Daily Range exits, traders would be looking for a profit target at $48.91.

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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