IGNORE THE DOOMSAYERS

Yes, because against that fact last week US indices were down, the market is still bullish and the correction has not been eruptive and stormy enough last week which means the bears are not strong enough to make bigger trouble on the floor. The correction doesn’t seem now realistic. It could come a bit later in couple of weeks or month, but not now.

Friday US markets closed higher, but stocks ended the week in negative territory.

• SP500 +0,17%, weekly loss -0,9%
• DJIA +0,2%, weekly loss -0,7%
• Nasdaq +0,4%, weekly loss -1,6%

Technically we have some levels on Dow 30. If any day the DJIA would be able to close above the 17,000 level, that can be a clear indication of breakout and in that case the index could jump up to 17,050 level easily and then if that resistance level is taken the market could go up higher gains and stay steadily over the 17,000 region.

The BFM Assets Team.