Trump Rally Extends to Record Highs on Wall Street

Trump Rally Extends to Record Highs on Wall Street

Trump Rally Extends to Record Highs on Wall Street

$DIA, $SPY, $QQQ, $VXX

No one is interested in selling this market, signaling that America’s investors are polling Very Positive for President Donald Trump, no matter what the left press is broadcasting, aka Fake News. 

Again Thursday, the major US stock market indexes rose to record high closes, with optimism over a tax overhaul increasing as Congress moved closer to agreement on a budget resolution and as the ecnomic data added to signs of strong GDP strength.

9 of the 11 major S&P sectors finished in the Green, led by the information technology and financial sectors.

Tech stocks, which have powered the rally, have risen nearly 26% YTD.

Thursday’s economic data pointed to underlying strength in the economy with the trade deficit narrowing in August and jobless claims falling more than expected last week.

Focus will now shift to the NFPs a more comprehensive monthly jobs report, due Friday.

Investors are also gearing up for the upcoming Q-3 corporate earnings season.

Earnings of S&P 500 companies are expected to rise 5.5% in the Quarter from a year earlier, according to Thomson Reuters data.

Thursday, the US major stock market indexes finished at: DJIA +113.75 at 22775.39, NAS Comp  +50.73 at 6585.36, S&P 500  +14.33 at 2552.07

Volume: Trade on the NYSE came in at 746-M/shrs exchanged

  • NAS Comp +22.2% YTD
  • DJIA +15.2% YTD
  • S&P 500 +14.0% YTD
  • Russell 2000 +11.4% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.54) Very Bullish (0.56) Very Bullish (0.69) Bullish (0.38)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Very Bullish (0.52) Very Bullish (0.54) Very Bullish (0.60) Bullish (0.42)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.35) Bullish (0.33) Bullish (0.31) Bullish (0.40)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Very Bearish (-0.50) Bearish (-0.34) Bearish (-0.48) Very Bearish (-0.67)

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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