Stock Market Highlights - Week 29- Q2 2015 S&P 500 earnings stand at $28.61, a 3.8% decline in growth year-over-year.
- Google's Share price hits all-time high, closed at 672.93 .
- Retail sales reduced 0.3% last month, the weakest reading since February.
After four consecutive positive trading days, the market took a break near 18000. The short-term stochastic (STO) indicators now show overbought conditions. Don't be surprised to see some consolidation to work off that overbought condition or a pullback.
The STO levels suggest that a period of consolidation or pullback is likely to follow. This is especially the case now that we are toward the top of the trading range. The doji (cross) at the top of chart is just another indication that we may be at a top of this leg up.
Notice that we did not even come close to testing the 200 DMA on this chart. Just incredible strength despite the weakness we see in the DJIA and the S&P.
Etsy, Inc. (Etsy) operates a marketplace where people around the world connect, both online and offline, to make, sell and buy unique goods. My first position in the stock was when it first IPOed, we were able to get in at the great price of $16 per share. The first trading day it jumped up towards $30 and then we dumped it the second day due to weakness.