US Indexes Winding Down the Year in Traditional Patterns
$DIA, $SPY, $QQQ, $VXX
The financial markets are winding down the year in the tradition pattern with optimistic sentiment about the future.
We do not know yet about the traditional dark cloud of Q-1 data when US growth numbers under perform before subsequently being revised higher months later and how that will effect the start of the New Year.
We wait, we see.
Meanwhile, US President Elect Donald Trump named early backer, iconic investor and friend to be a Special Adviser on issues regarding regulatory reform.
Carl Icahn, 80 anni, a Wall Street vet who founded his own securities firm, was named by Donald Trump Wednesday.
Mr. Icahn is estimated to worth more than $16-B.
Donald Trump in a statement said that Carl Icahn is “not only a brilliant negotiator, but also someone who is innately able to see, understand and predict the future, especially having to do with finances and economies.”
During his campaign, Donald Trump vowed to cut back on the number of government regulations on American business owners. Mr. Icahn said in a statement American businesses “have been crippled” by regulations. Expect him to take special aim at the EPA.
Wednesday, the top US stock indexes finished at: DJIA -32.66 at 19941.96, NAS Comp -12.51 at 5471.43, S&P 500 -5.58 at 2265.18
Volume: Trade was trade was below average with about 850-M/shares exchanged on the NYSE
- Russell 2000 +21.1% YTD
- DJIA +14.4% YTD
- S&P 500 +10.8% YTD
- NAS Comp +9.3% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.39)||Bullish (0.27)||Very Bullish (0.56)||Bullish (0.35)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.36)||Bullish (0.25)||Neutral (0.19)||Very Bullish (0.64)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.42)||Very Bullish (0.52)||Bullish (0.38)||Bullish (0.36)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Very Bearish (-0.67)||Very Bearish (-0.63)||Very Bearish (-0.70)||Very Bearish (-0.67)|