Stock Market Highlights - Week 15
Wells Fargo, a Berkshire Hathaway holding, closed at 54.32 on Friday, April 10th 2015. In recently years, the financial industry has usually been a leading indicator as to where the stock market is headed. This weak action from the strongest U.S. bank is not a good sign for the markets in the interim. We would like to see the price action for the stock to be above both the 50 DMA and 20 DMA. Though if it falls near the $50 per share level, you'll be sure to find buyers. This sideways action mimics that of the indices and I would not be surprised to see this continue.