More highs this week? Or is it time for a major correction?

Market Recap For Sunday, June 8th 2014

It was a big week for stocks. The S&P closed at 1949.44, a new record all-time high. The S&P was up +9 points on Friday, ending the week +26 points higher.

The DOW also joined the “all-time high” party, with a new all-time close at 16924.28. The DOW was up +88 points on Friday and +207 points for the week.

Helping fuel the market rally was Friday’s job report.  With U.S. payrolls rising 217,000 in May, unemployment is at 6.3% -the lowest level since the recession began.

With the enthusiasm of the recent rally the VIX or “Fear Index” is at lows that haven’t been seen in 7 years.

Will we see more highs this week? Or is it time for a major correction?

Markets To Watch

Markets To Watch

Since April, small cap stocks have been lagging the market. While the S&P and DOW made new all-time highs, the Russell 2000 remained in the red for the year. But with last week’s rally the Russell is FINALLY back into positive territory for the year!

The S&P is up +5.5% YTD while the Russell is up +.1% YTD after Friday’s +1.0% move. Will small cap stocks finally start to make a move?

This Week’s Economic Calendar

This Week’s Economic Calendar

Real Time Economic Calendar provided by

Power Crossover Signals

Power Crossover Signals

The signals above are derived based on the rules of our Power Crossover Method.

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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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