The Trump Bull Market Extends, Wall Street at Record Highs
$DIA, $SPY, $QQQ, $VXX
- Buy the dip mentality kicked in Thursday following the 1st dip of the year Wednesday; small caps, transports lead Bull Charge
Brent Crude rose above 70 bbl and WTI Crude rose 1.57% to 63.79 bbl boosted by a decline in US production and lower inventories.
The S&P energy index .SPNY gain 2.24% and putting it on track for its best percentage gain in more than 7 months.
The Dow Jones US Airlines index up 2.25% on the day..
Wall Street paused to refresh Wednesday after 6 days of gainers for the 1st time in Y 2018, got up Thursday morning refreshed and continued to charge North.
Investors are focused on Quarterly earnings, which will start Friday, with the big US lenders JPMorgan (NYSE:JPM), and Wells Fargo (NYSE:WFC.
Earnings for S&P 500 companies are expected to increase by 11.8% on an average, with the biggest contribution from the energy sector, according to Thomson Reuters I/B/E/S.
Thursday the US major stock market indexes finished at: DJIA +205.60 at 25574.73, NAS Comp +58.21 at 7211.78, S&P 500 +19.33 at 2767.56
Volume: Trade on the NYSE came in at: 828-M/shares exchanged
Breadth: Advancing issues outnumbered decliners on the NYSE by 2,103 to 762, on the NAS, 2,140 issues rose and 771 fell.
- Nasdaq Composite: +3.6% YTD
- S&P 500: +2.8% YTD
- Dow Jones Industrial Average: +2.6% YTD
- Russell 2000: +1.6% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.69)||Very Bullish (0.67)||Very Bullish (0.73)||Very Bullish (0.67)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Very Bullish (0.69)||Very Bullish (0.71)||Very Bullish (0.77)||Very Bullish (0.58)|
|HeffX-LTN Analysis for QQQ||Overall||Short||Intermediate||Long|
|Bullish (0.46)||Bullish (0.31)||Very Bullish (0.73)||Bullish (0.33)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Very Bearish (-0.52)||Very Bearish (-0.55)||Very Bearish (-0.69)||Bearish (-0.33)|