DJIA +258 pts on No Market Moving News

DJIA +258 pts on No Market Moving News

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

US stocks finished on the highs Wednesday in a broad-based advance. The S&P 500 increased 0.7%, overcoming a negative start that was attributed to declining Treasury yields and finished near session highs. 

The DJIA increased 1.0%, the NAS Comp increased 0.4%, and the Russell 2000 finished +1.2%. 

Wednesday’s session did not include any market-moving news or notable economic data, and it was quiet on the US-China trade front. The action in the Treasuries signaled there are growth questions.

Events to keep an eye on this week are:

  • The 2nd reading of Q-2 US GDP Thursday is expected to refine estimates of slightly lower economic growth.
  • Bank of Korea policy decision and briefing is Friday.
  • Eurozone CPI data for August is due Friday too

We are a headline or a Tweet away from triumph or tragedy almost every single day right now,” said the chief market strategist at National Securities Corp.“We are really on a knife’s edge. And that is what makes trading really difficult.”

Wednesday, the major US stock market indexes finished at: DJIA +258.20 at 26036.08, NAS Comp +29.94 at 7856.91, S&P 500 +18.78 at 2887.94

Volume on the NYSE came in at 706-M/shares exchanged

  • NAS Comp +18.4% YTD
  • S&P 500 +15.2% YTD
  • DJIA +11.6% YTD
  • Russell 2000 +9.2% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bearish with a slight Bullish bias in here.

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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