DJIA Posted a New Record High, S&P 500 Flat, NAS Underpreforms

DJIA Posted a New Record High, S&P 500 Flat, NAS Underpreforms

DJIA Posted a New Record High, S&P 500 Flat, NAS Underpreforms

$DIA, $SPY, $QQQ, $VXX

Wednesday, the DJIA marked to a new all-time high, but NAS Comp retreated from records on weakness in Apple (NASDAQ:AAPL) shares.

 

US stocks have rallied in recent weeks as enthusiasm about US tax cuts adds to optimism at improving US and global economic data.

This Trump Rally is a spectacular run with 397 days without a 3-5% pullback, but do not surprised if we have some profit taking at some point given how strong the rally has been, it would be a healthy event.

Weakness in Apple weighed down the Nasdaq, with the world’s biggest company by market capitalization falling 1.6% on negative speculation about iPhone sales in the current Quarter.

Wednesday, the major US stock market indexes finished at: DJIA +41.31 at 26252.12, NAS Comp -45.23 at 7415.05, S&P 500 -1.59 at 2837.54

Volume: Trade on the NYSE came in at: 950-M/shares exchanged.

  • NAS Comp: +7.4% YTD
  • DJIA: +6.2% YTD
  • S&P 500: +6.1% YTD
  • Russell 2000: +4.2% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.67) Very Bullish (0.58) Very Bullish (0.73) Very Bullish (0.71)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Very Bullish (0.67) Very Bullish (0.62) Very Bullish (0.77) Very Bullish (0.62)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.49) Bullish (0.38) Very Bullish (0.61) Bullish (0.47)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.42) Neutral (-0.19) Very Bearish (-0.70) Bearish (-0.38)

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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