US Custom Index shows FB & TWTR do not generate massive concerns

Don't expect the US markets to react too harshly to FB and TWTR news this week. This custom US Index is showing overall trend strength and support as prices continue to accelerate upward. The earnings concerns of a few stocks may not have much of a downward effect on the markets throughout the next few weeks. These are just isolated events. As my friend used to say "it is a market of stocks, not a stock market". In other words, one or two issues may not drive prices much lower.

Pay attention to the long term. The NQ will likely hover near 7400 for a while as the S&P and DOW push higher on earnings news. Foreign capital will still rush into the US after a solid 4.1% GDP number. Metals will likely base over the next few weeks. BRICs and Foreign markets are being left in the dust as the US market is on FIRE.

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