Broad Based Wall Street Rally Continues to Post Record Closes

Broad Based Wall Street Rally Continues to Post Record Closes

Broad Based Wall Street Rally Continues to Post Record Closes

$DIA, $SPY, $QQQ,$RUTX, $VXX

  • US and Mexico reached bi-lateral trade agreement; Canada will now join the discussions
  • Buying momentum following new records for the S&P 500, NAS Comp, and Russell 2000
  • Cyclical sectors outperform; heavily-weighted financial group particularly strong

Wall Street’s broad-based rally drove the S&P 500 and the NAS Cop to record-high closes for the 2nd day running Monday, as a trade agreement reached between the United States and Mexico buoyed investor sentiment.

Technology stocks led the NAS above the 8,000 mark for the 1st time and the sector provided the biggest boost to the S&P 500.

The upbeat trade outlook was further boosted by news that Washington was pressuring the EU to accelerate tariff talks.

People are feeling more positive in here as President Trump continues to deliver on his promises.

The Mexico-focused iShares MSCI Mexico ETF (EWW.N) was up 2.1 percent.

Of the 11 major sectors in the S&P 500, 9 ended the session in the Green, with the biggest percentage gainers in materials, financials and industrials.

Defensive utilities and real estate sectors were the only percentage losers.

Advancing issues outnumbered declining ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 1.29-to-1 ratio favored advancers.

The S&P 500 posted 54 new 52-week highs and no new lows; the Nasdaq Composite recorded 159 new highs and 31 new lows.

Monday, the major US stock market indexes finished at: DJIA+259.29 at 26049.64, NAS Comp +71.92 at 8017.92, S&P 500 +22.05 at 2896.48

Volume: Trade on all US exchanges was 6.19-B/shares exchanged

  • NAS Comp +16.1% YTD
  • Russell 2000 +12.6% YTD
  • S&P 500 +8.4% YTD
  • DJIA +5.4% YTD

HeffX-LTN’s Technical Outlook for the Major US Stock Market Indexed is Overall Bullish to Very Bullish

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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