- New Trades -
(May 31, 2015)
The S&P 500 index is only about 1.3% away from a new all-time high. The NASDAQ composite is less than 1% from a new 15-year high. Yet the tone on Wall Street is anything but bullish.
On a short-term basis the U.S. indices look like they could retreat this week. Yet bigger picture the trend is still higher.
The weakness this past week had a lot to do with questions over the future of Greece in the Eurozone. The focus on Greece will only get worse. They have very big debt payments to make every week in June. The size of their debt payments skyrocket in July and August. The next few weeks could be critical for Greece. The uncertainty generates a lot of volatility both in Europe and U.S. markets.
I am not adding any new trades tonight. I am adding DNKN and FEYE to the watch list. Both stocks have been outperforming and look poised to keep that trend alive.