The Bulls are In Charge, DJIA Catching Up

The Bulls are In Charge, DJIA Catching Up

The Bulls are In Charge, DJIA Catching Up


  • Stocks Up and Treasuries Down

Investors are focused on the start of the earnings season which begins unofficially Friday

The S&P 500 Index gained for a 4th day running, the longest streak since the beginning of June on moderate volume.

PepsiCo Inc. (NYSE:PEP) jumped more than 3% after reporting better-than-forecast profit, while banks fell ahead of JPMorgan Chase & Co. (NYSE:JPM) and Citigroup Inc. (NYSE:C) results Friday.

The Russell 2000 Index declined, ending a 5-day rally.

The USD fell as the EUR pared earlier losses.

  • EUR/USD Unch at 1.1745
  • GBP/USD +0.16% at 1.3273
  • USD/JPY +0.4% at 111.26

Treasury yields advanced for a 2nd session running

  • 2-yr Unch at 2.57%
  • 5-yr +2 bpts at 2.77%
  • 10-yr +1 bpt at 2.87%
  • 30-yr Unch at 2.97%

WTI Crude held at 74.12 bbl.

Again, investors’ attention is on earnings season looking for strong results the align with a recent run of positive economic data, the Bulls are in charge.

Tuesday, the major US stock market indexes came in at: DJIA +143.07 at 24919.66, NAS Comp +3.00 at 7759.22, S&P 500 +9.67 at 2793.58

Volume: Trade on the NYSE came in at 710-M/shares exchanged

  • NAS Comp +12.4% YTD
  • Russell 2000 +10.4% YTD
  • S&P 500 +4.5% YTD
  • DJIA +0.8% YTD

HeffX-LTN’s US Major Stock Market Indexes Technical Analysis

Date Symbol Price Technical Analysis Support Resistance
10 July 2018 QQQ 177.09 Bullish (0.41) 174.41 177.69
10 July 2018 DIA 249.19 Bullish (0.21) 245.74 250.79
10 July 2018 SPY 279.35 Bullish (0.45) 277.95 279.83

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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