Here is a report of my weekend homework. First, the bird’s eye view of the markets:
note: .DJI, .IXIC and .SPX are the Reuters symbols for Dow Jones Industrial Average, NASDAQ Composite and the Standard and Poors 500 Index respectively.
After last week’s correction, all the impulses have turned green which gives us a pretty bullish outlook on the week. Unfortunately, I did not get a change to scan for candidates yet. I will update this post if I find anything interesting in the course of the week.