Expect Strong Earnings, Forward Expectations to Drive Markets to Record Highs
$DIA, $SPY, $QQQ, $RUTX
Wall Street’s longest Bull market rally is alive and well after last weeks healthy pull back and will continue to run North into the record territory.
Last week’s pull back action is not indicative of any fundamental changes in the economy or markets, and there is clear evidence a Key technical reversal in all of the major market charts.
Earnings season is in full swing , and that is the catalyst for the equity markets to trade back up to new all-time highs.
The market paused to refresh last week, that is very healthy action in a Bull run.
This the Bull market has a long way to run, but of course there will be backing and filling along the way.
White House economic adviser Larry Kudlow Sunday played down the US stock market pullback as normal action.
Big numbers, small percentages, we here at HeffX-LTN look at market action in percentages, not numbers.
“I think the background is very positive for the stock market and I think, as I said, corrections come and go and people should … stay very calm over these things, they are quite normal,” Mr. Kudlow said on TV Sunday.
The DJIA dropped more than 800 pts Wednesday, which was fueled in part by worries over higher interest rates.
“The economy is in terrific shape. We are in an economic boom,” Mr. Kudlow said.
Mr. Kudlow also said President Donald Trump had some concern the Fed may be raising interest rates too fast but respected its independence.
HeffX-LTN’s Major US Stock Market Indexes Technical Analysis
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