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Showing posts from January, 2018

January 27, 2018 – Weekend Market Comment

January 27, 2018 – U.S. stocks closed sharply higher on Friday as quarterly earnings top estimates, while the economy continues to grow.

The Dow Jones industrial average rose 223.92 points and hit intraday and closing records. The 30-stock index finished the session at 26,616.71. The S&P 500 gained 1.2 percent to 2,872.87, with tech and health care as the best-performing sectors, and also reached an all-time high. The broad index also had its biggest one-day gain since March 1, 2017. The NASDAQ composite advanced 1.3 percent to close at 7,505.77 and notched record highs. It also had its best day since Jan. 2.

The major indexes also posted weekly gains of at least 2 percent. This week every index hit an all time high at some point. 

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 rising uptrend. Notice the second window,  this is a long term trend change. BULLISHBull marke…

January 20, 2018 – Weekend Market Comment

January 20, 2018 – The Dow Jones didn't fail this time.  After Tuesday's huge reversal from above the 26,000 level, there were a number of question marks about whether the current rally would continue.  The next day the Dow Jones answered those questions rather emphatically with its first close above 26,000 in history.  The Dow Jones has now cleared its fifth psychological thousand point level in the past six months, truly astounding.

Stocks closed higher on Friday as investors shrugged off worries about a possible government shutdown. Friday was the last trading day before options expiration, so higher than normal volume. The S&P 500 rose 0.4 percent to close at 2,810.30, a record high, with consumer staples as the best-performing sector. The NASDAQ composite climbed 0.6 percent to finish at 7,336.38, also a record. The Dow Jones industrial average closed 53.91 points higher at 26,071.72, despite pullbacks in IBM and American Express.

Earnings season kicked into full gear t…