CHICAGO, July 20, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "inthemoneystocks".
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Alert: Market To Hit 52 Week Highs
The average investor is almost as bearish as when the markets were at their 2009 financial crisis lows. With a possible default looming in the U.S. if the government does not raise the debt ceiling and a cliff dive of disaster nearing in Europe, the sentiment is highly bearish. This makes the smart investor realize a possible upswing is nearing. In fact, it may have started today with this move. While somewhat shallow, this upmove should take us back to the 52 week highs on the S&P 500. The SPDR S&P 500 ETF (NYSE: SPY) is currently trading at $132.73. The 52 week high on the SPY is $137.18.
Inevitably, the debt ceiling in the United States will be raised. The markets will spike higher on it. In addition, earnings should continue to be better than expected. As things quiet down in Europe in the short term, the Euro will gain traction and the Dollar will fall. A falling Dollar pushes the U.S. markets higher. The PowerShares DB US Dollar Index Bullish (NYSE: UUP) is trading at $21.43.
Gareth Soloway
InTheMoneyStocks.com
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