Equity markets had another great week but some spirited late day selling served as a reminder that the market is extended and susceptible to some profit taking. Buyers did come back in during the last half hour of the day showing that there is still an appetite for equities and in an uptrend the market is still “innocent until proven guilty.” The trend remains higher but the rate of ascent clearly cannot continue. Next week will start out with an air of caution, our job remains the same, manage risk!!
The video below goes over key levels to focus on next week and also follows up on my CNBC APPEARANCE where I spoke about TSLA and CZR.
Have a good weekend!