DJIA Posted a New Record High, S&P 500 Flat, NAS Underpreforms
$DIA, $SPY, $QQQ, $VXX
Wednesday, the DJIA marked to a new all-time high, but NAS Comp retreated from records on weakness in Apple (NASDAQ:AAPL) shares.
US stocks have rallied in recent weeks as enthusiasm about US tax cuts adds to optimism at improving US and global economic data.
This Trump Rally is a spectacular run with 397 days without a 3-5% pullback, but do not surprised if we have some profit taking at some point given how strong the rally has been, it would be a healthy event.
Weakness in Apple weighed down the Nasdaq, with the world’s biggest company by market capitalization falling 1.6% on negative speculation about iPhone sales in the current Quarter.
Wednesday, the major US stock market indexes finished at: DJIA +41.31 at 26252.12, NAS Comp -45.23 at 7415.05, S&P 500 -1.59 at 2837.54
Volume: Trade on the NYSE came in at: 950-M/shares exchanged.
- NAS Comp: +7.4% YTD
- DJIA: +6.2% YTD
- S&P 500: +6.1% YTD
- Russell 2000: +4.2% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.67)||Very Bullish (0.58)||Very Bullish (0.73)||Very Bullish (0.71)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Very Bullish (0.67)||Very Bullish (0.62)||Very Bullish (0.77)||Very Bullish (0.62)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.49)||Bullish (0.38)||Very Bullish (0.61)||Bullish (0.47)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.42)||Neutral (-0.19)||Very Bearish (-0.70)||Bearish (-0.38)|
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