Seahawk victory could sway stock market sentiment
All Eyes on Wall Street:
All eyes on Wall Street will likely be focused on last week’s roller coaster ride, in addition to yesterday’s Seahawk Super Bowl Victory. The infamous (and relatively accurate) Super Bowl Indicator states that any team from the former NFC that wins the Super Bowl somehow predicts a rising stock market for that year. So, Broncos fans, sorry for your loss, but I was rooting for a positive 2014 and thus a Seahawk victory. And, not only was that victory a victory, it was a total blowout.
As for economic reports, we are due out for the Construction Spending report and ISM Manufacturing report at 10:00 AM EST and Q4 2013 earnings reports from Sysco (SYY) and Yum! Brands (YUM).
Hindsight is a Beach and We’re Playing on It:
Last week was a tough week for us, and Friday ended negatively, with a .65% decline for the S&P 500 (SPY), a .94% decline for the Dow Jones Industrial Average (DIA) and a .47% decline for the NASDAQ 100 (QQQ). It appears that the bulls have again lost some steam.
Your Stock Market Forecast for February 3rd, 2014:
I predict a down day for the first trading day in February. Go bears go!
Exchange Traded Fun:
Since we are going short, the following list of ETFs could be of great value to us:
- S&P 500 Short 1X: (SH)
- S&P 500 Short 2X: (SDS)
- S&P 500 Short 3 X: (SDXU)
- Dow Jones Industrial Average Short 1X: (DOG)
- Dow Jones Industrial Average Short 2X: (DXD)
- Dow Jones Industrial Average Short 3X: (SDOW)
- NASDAQ 100 Short 1X: (PSQ)
- NASDAQ 100 Short 2X: (QID)
- NASDAQ 100 Short 3X: (SQQQ)
The Long and Short of It:
I predict a down day for the first trading day of February, although the Seahawks victory suggests a positive year for 2014. We will see what happens!
This stock market forecast is for educational and informational purposes only. It is not intended to be investment advice nor an investment recommendation. Past performance is no guarantee of or indication of future performance and your performance may vary widely from any that may be indicated in this column. There is risk of loss in all investing and trading activities and you should consult your financial adviser before making any investment decisions.