US Stocks Overcome Early Weakness Finishing in the Green

US Stocks Overcome Early Weakness Finishing in the Green

US Stocks Overcome Early Weakness Finishing in the Green

$DIA, $SPY, $QQQ, $VXX

Tuesday, US stocks overcame early weakness driving the major indices North for the 3rd session running.

Fully, 9 of the 11 S&P 500 sectors finished in the Green, with financials (+0.5%), consumer discretionary (+0.5%), and real estate (+0.6%) being the Top performers.

Energy (-0.5%) and materials (-0.3%) were the 2 declining sectors, and healthcare (+0.1%) also showed relative weakness.

Tuesday’s only economic report, the NFIB Small Business Optimism Index for January–rose to 106.9 from 104.9 in December.

Wednesday, investors will receive the weekly MBA Mortgage Applications Index at 7:00a ET, the Consumer Price Index (consensus +0.4%), the core Consumer Price Index (consensus +0.2%), and Retail Sales (consensus +0.2%) for January at 8:30a ET, and Business Inventories for December  (consensus +0.3%) at 10:00a ET.

Emphasis will be placed on the core Consumer Price Index (CPI) as a hotter-than-expected reading could prompt inflation and/or rate hike concerns.

Tuesday, the major US stock market indexes finished at: DJIA +39.18 at 24640.45, NAS Comp +31.55 at 7013.51, S&P 500 +6.94 at 2662.94

Volume: Trade on the NYSE came in at: 807-M/shares exchanged

  • NAS Comp +1.6% YTD
  • DJIA -0.3% YTD
  • S&P 500 -0.4% YTD
  • Russell 2000 -2.7% YTD

HeffX-LTN’s Overall Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
13 February 2018 QQQ 159.85 Neutral (0.04) 156.36 160.36
13 February 2018 DIA 246.86 Neutral (-0.04) 238.32 247.63
13 February 2018 SPY 266.2 Neutral (0.02) 262.79 268.66

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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