Welcome back to the Week Ahead post. This post if you have never been here before goes over the prior weeks action as well as gives you commentary on the upcoming week (2 videos, ~20 annotated charts, and a couple paragraphs). This is designed to give you a resource to come to get a jump start on your analysis and preparation for the week ahead. Now let’s get started with it…
Last week we discussed the potential for a larger correction in the overall indexes. We also however discussed however that a trade back above the 156 level in the $SPY would negate this theory. We saw that on Tuesday of this past week and therefore no correction occurred and we proceeded on to buying the relative strength stocks. We also determined that because we never “held lower” and retested the 50 SMA on Monday/Tuesday of this past week that the short trade was never initiated. The theme of last week’s post was neutral was traded higher on Friday but were still below the major moving averages. The following two links are from last week’s videos if you would like to review them –
Last Week’s Week Ahead Post – http://www.bencbanks.com/the-week-ahead-for-the-week-of-4-22-13/
Last Week’s Sector Analysis Video – http://www.youtube.com/watch?v=EosYIe946Q8
Last Week’s Security Analysis Video –http://www.youtube.com/watch?v=kQMswPUeHrs
Going into this week we can have a neutral to bullish stance. The bulls would need to hold higher for at least one more day (above Friday’s lows). If this occurs the stance can quickly transition into the bullish. We do not see many reasons to be short here as the overall trend is up, and it appears as if we are simply consolidating the prior weeks agains. The homebuilders also so some money rotation this week ($KHB, $RYL are the strongest). The banks ($XLF) also are emerging again and hold above the $18.40 mark would be productive. With all this said, let’s see those videos!
Whoops. Before we get into this upcoming week… We need to have our weekly “fun” or “music video”. If you do not know already, I do this because I want this post to be more than just about stocks. There needs to be some life to it, something that makes it unique. To make it unique I share something I found entertaining from the past week. Most of the time it will be a music video (I listen to alot of Pandora – $P – because I am doing homework or the stock market for a long time each day). So this week the Song is called “CowTown” By George Ducas – He only has two video on his youtube page so he is a relatively new artist I stumble upon. Nice country rock feel to it. I am sorry if you do not like country music – I listen to almost all country.
Alright, now we can get into this upcoming week’s VIDEOS!
Security Analysis VIDEO
Sector Analysis VIDEO
Alright, and finally… Last but not least. The Charts. I have over 20 for you this week. Enjoy. As always, if you have any questions/comments please contact me via Twitter/StockTwits or by email by clicking here. Have a good week.