The Trump Rally Extends, DJIA and S&P 500 at Record Highs

The Trump Rally Extends, DJIA and S&P 500 at Record Highs

The Trump Rally Extends, DJIA and S&P 500 at Record Highs


Wednesday, DJIA and the Standard & Poor’s 500 finished at record highs, the NAS Comp fell, dragged down by declines in big tech names.

Trading was quiet ahead of the Thanksgiving Holiday weekend in the USA.

Small-company stocks continued to outpace the market. The Russell 2000 rose for the 14th trading day running.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36%.

Higher bond yields are linked to higher interest rates, so the rising yields helped bank stocks turn higher.

The S&P 500 financial index is up 11% since the US Presidential election while the S&P 500 itself is up 3%.

As bond yields rose, investors sold shares of REITS real estate investment trusts, utilities, and companies that sell household goods. Those companies are sometimes compared to bonds because they pay large dividends. When bonds yields rise, those stocks become less appealing to investors seeking income..

The USD rose to 112.58 Japanese Yen from JPY 111.14. EUR fell to $1.0550 from 1.0624. The Buck has not been this strong since March 2003.

WTI Crude Oil -0.07 to 47.96 bbl in New York. Brent Crude Oil off 0. 17 to 48.95 bbl in London.

Gold fell to its lowest mark since February, off 21.90, or 1.8%, to 1,189.30 oz. Silver off 0.24, or 1.4%, to 16.39 oz. Copper + 0.06 , or 2.5%, to $2.6 lb.

Wednesday the US major stock market indexes finished at: DJIA +59.31 at 19083.18, NAS Comp -5.67 at 5380.68, S&P 500 +1.78 at 2204.72

Volume: Trade was moderate with 807.2-M/shares exchanged on the NYSE

HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.36) Bullish (0.33) Bullish (0.40) Bullish (0.36)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Bullish (0.26) Neutral (0.12) Very Bullish (0.51) Neutral (0.16)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Neutral (0.24) Bullish (0.31) Neutral (0.19) Neutral (0.22)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.35) Bearish (-0.35) Bearish (-0.35) Bearish (-0.33)

Have a Happy Thanksgiving

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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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