Weekly Stock Market Outlook
The key thing to watch this week is the S&P 500 and whether it can break out
of its nearly 3 month trading range which has been in the 960-1015 range.
If the S&P 500 can take out the 1015 level accompanied by strong volume then
this could lead to a move up to the 1065 level which is at the S&P 500's
38.2% Retracement Level calculated from the early 2000 high to the October 2002
Over the past few weeks several stocks have been developing a
favorable chart pattern and if the S&P 500 can break out to the upside we
should see many of these stocks do well in the near term.
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