February 3, 2013 – The stock market made record setting gains in January. Expectations have been spot on revealing buying opportunities in news driven pull backs as discussed in December 2012 and January 2012 monthly market letter. For those who are members of the premium market alerts you have already received the market alert to a potential larger pullback that Expectations signaled on 1/31/2013. Expectations nearly signaled a bear market bias but came up short, which from past experience, has triggered a relatively reliable indicator to a pull back in the market before it can move higher. On Friday, February 1rst, the US employment report along with positive ISM data gave the markets the necessary energy to push through 14,000 on the Dow Jones Industrial Average (DJIA). This significant level on the DJIA could provide the perfect point for this possible pullback to occur. If a pull back does ensue, we could expect the DJIA to find support anywhere from 13,050 to 13,200. Please keep in mind these target pullback points are strictly based off likely technical support points. Any sign of a support in the pullback represents a likely buying opportunity unless signaled by Marketexpectation.com premium market alert.
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- Be on the lookout for a pull back in the market with support possibly coming in at 13,050 to 13,200 on the DJIA.
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