The Trump Bull Market Extends, Wall Street at Record Highs
$DIA, $SPY, $QQQ, $VXX
- Buy the dip mentality kicked in Thursday following the 1st dip of the year Wednesday; small caps, transports lead Bull Charge
The Wall Street Bulls drove stocks to new highs Thursday as rising Crude Oil prices lifted energy stocks and upbeat forecast from Delta Air Lines drove airline stocks higher.
Brent Crude rose above 70 bbl and WTI Crude rose 1.57% to 63.79 bbl boosted by a decline in US production and lower inventories.
The S&P energy index .SPNY gain 2.24% and putting it on track for its best percentage gain in more than 7 months.
The Dow Jones US Airlines index up 2.25% on the day..
Wall Street paused to refresh Wednesday after 6 days of gainers for the 1st time in Y 2018, got up Thursday morning refreshed and continued to charge North.
Investors are focused on Quarterly earnings, which will start Friday, with the big US lenders JPMorgan (NYSE:JPM), and Wells Fargo (NYSE:WFC.
Earnings for S&P 500 companies are expected to increase by 11.8% on an average, with the biggest contribution from the energy sector, according to Thomson Reuters I/B/E/S.
Thursday the US major stock market indexes finished at: DJIA +205.60 at 25574.73, NAS Comp +58.21 at 7211.78, S&P 500 +19.33 at 2767.56
Volume: Trade on the NYSE came in at: 828-M/shares exchanged
Breadth: Advancing issues outnumbered decliners on the NYSE by 2,103 to 762, on the NAS, 2,140 issues rose and 771 fell.
- Nasdaq Composite: +3.6% YTD
- S&P 500: +2.8% YTD
- Dow Jones Industrial Average: +2.6% YTD
- Russell 2000: +1.6% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.69)||Very Bullish (0.67)||Very Bullish (0.73)||Very Bullish (0.67)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Very Bullish (0.69)||Very Bullish (0.71)||Very Bullish (0.77)||Very Bullish (0.58)|
|HeffX-LTN Analysis for QQQ||Overall||Short||Intermediate||Long|
|Bullish (0.46)||Bullish (0.31)||Very Bullish (0.73)||Bullish (0.33)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Very Bearish (-0.52)||Very Bearish (-0.55)||Very Bearish (-0.69)||Bearish (-0.33)|