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Wednesday, June 23, 2021
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Mr. Biden Continues to ‘Blow Smoke’ At Americans

#tax #economy

$DIA $SPY $QQQ $RUTX $VXX

Mr. Biden’s tax news was not “new”, he campaigned on increasing taxes on the wealthy, remember?“–Paul Ebeling

The economic new continues to be good, Americans will not let Mr. Biden destroy the world’s #1 economy.

Q-1 earnings exceed the high expectations, weekly jobless claims declined to post-VirusCasedemic lows.

Notably, Mr. Biden will give his 1st address to Congress as president next Wednesday, and since Congress will not be in session, few will attend, Wild!

Punchbowl News reported this wk that a considerable number of lawmakers, asked if they wanted to attend, said No or offered no answer at all.

It is obvious people at many levels including Congress have tuned out Mr. Biden altogether.

Thursday, the benchmark US stock market indexes finished at: DJIA -321.41 to 33815.90, NAS Comp -131.81 to 13818.43, S&P 500 -38.44 to 4134.98. The Russell 2000 declined just 0.3%.

Volume: Trade on the NYSE came in at 866-M/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is still Very Bullish in here.

The DIA chart suggests a move beyond 343.14 in the near term. The SPY chart suggests a move beyond 418.60, and the QQQ chart suggest a move beyond 337.76.

  • Russell 2000 +13.1% YTD
  • DJIA +10.5% YTD
  • S&P 500 +10.1% YTD
  • NAS Comp +7.2% YTD

Looking Ahead: Investors will receive New Home Sales for March and the preliminary IHS Markit Manufacturing and Services PMIs for April Friday.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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