Weekend Stock Market Analysis June 07, 2014

Now the Nasdaq is ONLY about 15 points (or, only 0.35%) away from breaking out on the weekly chart too. Will the Nasdaq breakout or will it stall at current levels since this is a tricky weekly RSI area for the tech index.

With the VIX making fresh 52 week lows on the back of a multi-month move lower and after such a nice general market rally logic would have it that a pull back makes sense. The thing is, though, that markets are mostly illogical so the rally can also continue.

I have added a new rebound idea in SWIR [$19.48] and there is a mention of EWZ [$47.82] (The Brazillian ETF) as a buy if it continues trading above $47.04 on it's monthly chart.

Much love and do enjoy the weekend.