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Showing posts from December, 2017

December 30, 2017 – Weekend Market Comment

December 30, 2017 – Happy New Years and thank you for reading another year of the Weekend Market Comment. 

Eight of nine sectors finished higher Thursday as the bulls were able to regain control of the action and send the Dow Jones to a new all-time high close.  The S&P 500 fell 2 1/2 points shy of its record high close, while the Russell 2000 closed less than a point away from its all-time high.  2017 has been a very solid year for global equities and the U.S. has been no exception. 

On Friday the day began with some tax selling and profit taking. Typical for start of the last trading day. Gold ($GOLD) has moved back above $1300 and crude oil ($WTIC) is trading above $60 per barrel in early action Friday.  We haven't seen the latter climb above $60 per barrel since mid-2015 - and that was very briefly.

U.S. stocks closed lower Friday, the last trading day of the year, with no S&P 500 sectors ending higher. The S&P 500 closed about half a percent lower but still held gain…

December 23, 2017 – Weekend Market Comment

December 23, 2017 – For the 70th time in 2017, we set a new record high during this week.

U.S. equities fell slightly on Friday, but traded near record levels, after lawmakers agreed on a plan to prevent a government shutdown. The Dow Jones industrial average slipped 53 points, with Nike leading decliners. The S&P 500 traded 0.1 percent lower, with financials falling 0.4 percent. The NASDAQ composite declined 0.2 percent. Despite small declines, the major indexes remained about 1 percent below record highs set earlier this week.

Here is what our charts say:

CLICK HERE: To see the 100 and 200 series charts

101 Bull Bear Bull market (dark green over red)  the dark green 50 day average is in a parabolic uptrend.   NOTICE THE SLOPE (second window), we are in a big upturn!Bull market -- expect bullish outcomes. ! 103 NYSE High Low Market Forces Breadth lines on a tear... BULLISH
105 Non Farm Payroll Lots of jobs! But beware this is lagging indicator. The smart money is gone before this turns dow…

December 16, 2017 – Weekend Market Comment

December 16, 2017 – U.S. stocks rose to all-time highs on Friday as expectations of a Republican tax bill passing increased. The Dow Jones industrial average jumped 139 points to 24,651.74, a record. The S&P 500 gained 0.9 percent to finish at 2,675.81, also hitting an all-time high, with financials, staples, health care and tech all rising at least 1 percent. The NASDAQ composite advanced 1.2 percent to a record close of 6,936.58.

There had been concerns about the tax bill passing this year, after Rubio said Thursday he would vote against the bill if the proposed child tax credit was not extended. Fellow Republican Sen. Mike Lee also said Thursday he was undecided on the GOP plan. The major indexes were trading higher before the news about the senators broke, but closed lower on Thursday. The Dow also snapped a five-day winning streak.

Here is what our charts say:

CLICK HERE: To see the 100 and 200 series charts

101 Bull Bear Bull market (dark green over red)  the dark green 50 day av…