Leading Indicators Up, Trump Tax Cut Momentum Continues

Leading Indicators Up, Trump Tax Cut Momentum Continues

Leading Indicators Up, Trump Tax Cut Momentum Continues

$DIA, $SPY, $QQQ, $VXX

An Key economic indicator rose more than expected in December and President Donald Trump’s landmark tax cut will likely push it even higher in the near future.

Leading indicators rose 0.6% in December, more than the 0.5% expected by economists surveyed by Reuters. The index rose 0.4% in November, coming in line with expectations.

“The passing of the tax plan is likely to provide even more tailwind to the current expansion,” the Conference Board research director said in a statement.

The Index of Leading Economic Indicators is a closely followed indicator used to forecast global economic trends and take a pulse on the US economy.

The Conference Board determines a composite value based on 10 Key metrics, including manufacturers’ new orders, stock prices and average weekly unemployment claims to create the composite value.

The index is a closely followed indicator for how healthy the US economy is.

For his part, President Trump arrived in Switzerland Thursday to attend the World Economic Forum where he will drive his America First policy and seek more fair, reciprocal trade between the United States and its allies,

President Trump is the 1st US President invited to attend Davos since Bill Clinton in Y 2000.

The United States wants strong ties with its allies but wants to reduce chronic trade deficits with many of them.

“America First is not America alone,” said White House senior economic adviser Gary Cohn, who is in Davos with President Trump’s team. “When we grow, the world grows; when the world grows, we grow. We’re part of it, and we’re part of a world economy. And the President believes that.”

Thursday, the major US stock market indexes finished at: DJIA +140.67 at 26392.79, NAS Comp -3.89 at 7411.16, S&P 500 +1.71 at 2839.25

Volume: Trade on the NYSE came in at: 887-M/shares exchanged

  • NAS Comp: +7.4% YTD
  • DJIA: +6.8% YTD
  • S&P 500: +6.2% YTD
  • Russell 2000: +4.3% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.62) Bullish (0.42) 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 (0.48) Bullish (0.37) Very Bullish (0.61) Bullish (0.46)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.29) Neutral (-0.05) Bearish (-0.46) Bearish (-0.38)

Stay tuned…

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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