Global Investors Buying US Stocks, S&P 500 at Record Highs

Global Investors Buying US Stocks, S&P 500 at Record Highs

Global Investors Buying US Stocks, S&P 500 at Record Highs

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

Global Investors bought into US stocks this week which set their longest-ever market rally.

That action declared the end of a “tsunami” of tech fund inflows which have driven the market higher, noting tiny inflows of $0.1-B this week after a huge $22-B came into tech YTD.

Some $2.6-B flowed into equities funds and $0.5-N left bond funds as investors’ risk appetite recovered, while $1.2-B flooded out of Gold funds according to figures from flows data provider EPFR.

The S&P 500 extended its Bull run to 3,455 days Friday, the longest such streak in history by calculations which set the rally’s start on 9 March 2009.

The S&P 500 has been and still is narrow, dominated by Facebook, Amazon, Apple, Microsoft and Google whose total market cap of around $4.1-T is greater than the combined market cap of the smallest 283 stocks in the index.

Never the less overall inflows this week on light volume indicated a cautions return to risk.

US equity funds drew in $4.1-B, leading other regions by far as outstanding earnings growth, driven by tax cuts, set US stocks apart.

European equity funds suffered a 24th straight week of outflows, losing $1.1-B. Since March they have given back all $51-B of the inflows of Ys 2016 to 2018.

Friday, the major US stock market indexes finished at: DJIA +133.37 at 25790.35, NAS Comp +67.52 at 7946.00, S&P 500 +17.71 at 2874.43

Volume: Trade on the NYSE came in light at 611-M/shares exchanged, it is August!

  • NAS Comp +15.1% YTD
  • Russell 2000 +12.4% YTD
  • S&P 500 +7.5% YTD
  • DJIA +4.3% YTD

HeffX-LTN’s US Major Stock Market Indexes Technical Analysis for the Week Ended 24 August 2018

Date Symbol Price Technical Analysis Support Resistance
24 August 2018 QQQ 182.48 Bullish (0.25) 180.57 182.82
24 August 2018 DIA 257.90 Bullish (0.38) 254.91 258.90
24 August 2018 SPY 287.43 Bullish (0.31) 287.00 None

Have a terrific weekend

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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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