US Stocks Finished Higher on Energy and Technology Gains

US Stocks Finished Higher on Energy and Technology Gains

US Stocks Finished Higher on Energy and Technology Gains

$DIA, $SPY, $QQQ, $VXX

US stocks ended higher Wednesday extending The Trump Rally, as energy and technology gains countered a drop in healthcare stocks after President Elect Donald Trump said pharmaceutical companies were “getting away with murder” by charging high prices.

The NAS Comp ended the day with another record closing high after falling as much as 0.5% after Mr. Trump’s 1st formal news conference since the November 8 election.

The S&P 500 healthcare index ended the session down 1% after falling as much as 1.9% earlier in the day and the NAS Comp biotechnology index .NBI fell 2.96%, ending a 6-day winning streak for both indexes.

The S&P’s technology index ended up 0.7%, boosted most by Microsoft Corp.(NASDAQ:MSFT), Facebook Inc. (NASDAQ:FB), and Apple Inc.(NASDAQ:AAPL).

Wednesday, the major US stock market indexes finished at: DJIA +98.75 at 19954.41, NAS Comp +11.83 at 5563.64, S&P 500 +6.42 at 2275.32

Volume: 7.2-B/shares changed hands on US exchanges on Wednesday compared with the 6.57-B/share average for the last 20 sessions.

Advancing issues outnumbered declining ones on the NYSE by a 2.20-to-1 ratio; on the NAS, a 1.22-to-1 ratio favored advancers.

The S&P 500 posted 20 new 52-wk highs and 2 new lows; the NAS Comp recorded 99 new highs and 18 new lows.

  • Russell 2000 +1.2% YTD
  • DJIA +1.0% YTD
  • S&P 500 +1.6% YTD
  • NAS Comp +3.4% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.39) Neutral (0.18) Bullish (0.42) Very Bullish (0.58)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.37) Bullish (0.42) Bullish (0.25) Bullish (0.43)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.49) Bullish (0.35) Very Bullish (0.59) Very Bullish (0.53)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Very Bearish (-0.59) Very Bearish (-0.68) Very Bearish (-0.74) Bearish (-0.36)

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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