Big Tech Rallies, US Indexes Rise

Big Tech Rallies, US Indexes Rise

Big Tech Rallies, US Indexes Rise

$DIA, $SPY, $QQQ, $VXX

US stocks are rising Thursday as Facebook (NASDAQ:FB) led a big rally in technology. The social media platform rose on strong business in Q-1.

Other big technology companies also moved higher, as did retailers. Chipotle Mexican Grill, Ford and Visa also rose after they gave strong first-quarter reports.

Just 3 months ago on 26 January the S&P 500 and DJIA market all-time highs and has been consolidating the strong gains since President Trump’s election. The S&P is down 7.3 and the DJIA is off 8.7% since.

WTI Crude Oil inched up 0.1% at 68.10 bbl in New York.

Brent Crude rose 0.6% at 74.45 bbl in London.

Crude Oil prices have risen recently, and that has driven up fuel costs for many companies.

The European Central Bank (ECB) left its Key interest rates and monetary stimulus settings unchanged Thursday. ECB President Mario Draghi said the European economy is still growing, but there is some evidence that growth has slowed down. He added that so far, the evidence isn’t worrisome enough to consider changing the bank’s stimulus and interest rate policy.

Thursday, the major US stock market indexes finished at: DJIA +238.51 at 24322.34, NAS Comp +114.94 at 7118.68, S&P 500 +27.54 at 2666.94

Volume: Trade on the NYSE came in at 833-M/shares exchanged

  • NAS Comp +3.1% YTD
  • Russell 2000 +1.5% YTD
  • S&P 500 -0.3% YTD
  • DJIA -1.6% YTD

HeffX-LTN’s Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
26 April 2018 QQQ 161.96 Neutral (-0.06) 161.30 162.60
26 April 2018 DIA 243 Neutral (-0.17) 238.32 243.27
26 April 2018 SPY 265.52 Neutral (-0.17) 259.11 266.42

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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