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  • Fireworks On The Horizon: Be Ready For Market Action 0 comments
    Jul 30, 2013 2:09 PM | about stocks: SPY

    The markets have reversed early gains to turn negative. The S&P 500 is trading at 1,683.16, -2.17 (-0.13%). The key to the downside is two fold. First, the markets are overbought. Second, smart money is moving to the sidelines ahead of major news starting tomorrow. Tomorrow morning, the first look at second quarter GDP will be released. Then at 2PM ET, the Federal Reserve will release their FOMC Policy Statement. Finally, on Friday the Non Farm Payrolls Report will be released. These huge reports and announcements will put the recent market rally in peril. Smart money has started booking profits.

    Gareth Soloway

    Stocks: SPY
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