NAS Comp Marked Record Highs on Netflix ‘Spike’

NAS Comp Marked Record Highs on Netflix ‘Spike’

NAS Comp Marked Record Highs on Netflix ‘Spike’


A spike in Netflix(NASDAQ:NFLX) boosted the NAS Comp (QQQ) to a record high close Tuesday, while Goldman Sachs Group (NYSE:GS) pushed DJIA South as earnings take center stage on Wall Street.

The NAS posted its 8 consecutive session of gainers, the longest streak since its 10-Day string in February 2015.

The tech-heavy index was largely boosted by Netflix . The movie streaming company rose 13.5% to 183.60 a day after beat the Street forecasts by reporting 5.2-M new streaming customers in Q-2.

As Q-2 earnings season gears up, investors will focus on the performance of individual companies.

Goldman Sachs fell 2.6% to 223.31 after reporting a 40% fall in bond trading revenue and posted the weakest commodities results in its history as a public company.

Other widely held stocks were active after posting results.

The major US stock indexes finished at: DJIA -54.99 at 21574.73, NAS Comp +29.87 at 6344.27, S&P 500 +1.47 at 2460.62

Volume: Trade on the NYSE came in lite again with just 696-M/shares exchanging hands

  • NAS Comp +17.9% YTD
  • S&P 500 +9.9% YTD
  • DJIA +9.2% YTD
  • Russell 2000 +5.2% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.39) Bullish (0.35) Bullish (0.35) Bullish (0.46)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.28) Bullish (0.31) Bullish (0.38) Neutral (0.17)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Neutral (0.20) Bullish (0.33) Neutral (0.21) Neutral (0.06)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.43) Bearish (-0.29) Very Bearish (-0.55) Bearish (-0.46)

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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