President Trump, “Record Setting Stocks Have Great Potential for Future”

President Trump, “Record Setting Stocks Have Great Potential for Future”

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

USA is where the action is. Companies and jobs are coming back like never before!”

President Trump continues to applaud as the US stock market continues to set records, predicting this Bull market will set even more historical highs in the future.

“Hit New Stock Market record again yesterday, the 20th time this year, with GREAT potential for the future,” he Tweeted Thursday.

Stocks have recently run to all-time highs, with the Dow and the S&P 500 posting record closing marks Wednesday, helped by the Fed’s interest rate cuts, Q-3 earnings topping low expectations and signs the economy may be bottoming.

The benchmark S&P 500 posted a small gainer to end with a record closing high Thursday.

Meanwhile, the current market boom, which started on 9 March 2009, has seen a 468% gainer for the S&P 500 through the 1st day of November.

This record-long Bull run also marks the best-performing one since the World War II.

The most outstanding feature of this cycle since Y 2008 is always going to be fear, as stock indexes climb the wall of worry.

Citi says it is too early to call the end of the current 10-year Bull market and expects global equities to rise by another 9% by the end of Y 2020, although it warns the threat of recession is the biggest risk facing markets, Reuters explained.

Citi’s outlook: “Bull Market: Old, But Not Dead” and released last month, comes after global stock markets took a beating this week amid signs of a slowdown in US economic growth and as weak earnings fan fears that trade tensions could push the global economy into recession.

Citi equity strategists say they expect central banks will continue to respond to slowing economies in Y 2020, as they have done this year, and US equities will lead the way North as a result.

They acknowledge the risk of earnings downgrades, saying growth estimates of 10% by several analysts and strategists are too high.

Downgrades are unhelpful, although not fatal for stock markets,” Citi equity strategists said, adding that Europe and emerging markets were “most vulnerable” to downgrades.

Thursday, the major US stock market indexes finished at: DJIA -1.63 at 27781.87, NAS Comp-3.08 at 8479.02, S&P 500 +2.59 at 3096.63

Volume: Trade on the NYSE came in at 719-M/shares exchanged

  • NAS Comp +27.8% YTD
  • S&P 500 +23.5% YTD
  • DJIA +19.1% YTD
  • Russell 2000 +17.8% YTD

HeffX’-LTN’s overall technical analysis for the US major stock market indexes in Bullish to Very Bullish in here.

Looking ahead

Investors will receive the following economic reports Friday: Retail Sales for October, the Empire State Manufacturing Survey for November, Export and Import Prices for October, Industrial Production and Capacity Utilization for October, and Business Inventories for September. 

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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