Trump Rally Extends, DJIA, S&P 500 & NAS Comp at Record Highs

Trump Rally Extends, DJIA, S&P 500 & NAS Comp at Record Highs

Trump Rally Extends, DJIA, S&P 500 & NAS Comp at Record Highs

$DIA, $SPY, $QQQ, $VXX

Wednesday, US stocks climbed into record territory, as the DJIA closed over the 20,000 mark for the 1st time as solid earnings and optimism over US President Donald Trump’s pro-growth initiatives extend the post-Election Trump Rally.

President Trump has made several business-friendly decisions since taking office last Friday, including signing executive orders to reduce regulatory burden on domestic manufacturers and clearing the way for the construction of two oil pipelines.

The S&P 500 and the NAS Comp indexes also closed at record highs for a 2nd session running.

Participants are encouraged to see financials acting well again because they are the leadership in here.

President Trump marked the moment with a Tweet from the official account of the office: “Great!#Dow20K”.

Sentiment was also lifted by better-than-expected Q-4 earnings. Of the 104 S&P 500 companies that have reported results through Wednesday morning, nearly 70% have beaten expectations, according to Thomson Reuters I/B/E/S. Earnings are expected to show growth of 6.8% for the Quarter, the strongest in 2 years.

The 42-session surge from the DJIA’s 1st close above 19,000 marks the 2nd-shortest length of time between such market milestones.

A 1.7% rise in financials paced the advance for the S&P 500, while names sensitive to a climb in interest rates: utilities, real estate and telecoms  lost ground.

Wednesday, the major US stock market indexes finished at: DJIA +155.80 at 20068.64, NAS Comp +55.38 at 5656.33, S&P 500 +18.30 at 2298.37

Volume: About 7.03:B shares changed hands in US exchanges, more than the 6.37-B daily average over the last 20 sessions.

  • Russell 2000 +1.9% YTD
  • DJIA +1.6% YTD
  • S&P 500 +2.7% YTD
  • NAS Comp +5.1% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.41) Neutral (0.14) Very Bullish (0.54) Very Bullish (0.54)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.33) Neutral (0.13) Very Bullish (0.54) Bullish (0.33)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Very Bullish (0.52) Bullish (0.48) Very Bullish (0.56) Very Bullish (0.53)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.44) Bearish (-0.37) Very Bearish (-0.74) Neutral (-0.21)

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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