Trump Rally Extends, Wall Street Marks New Record Highs
$DIA, $SPY, $QQQ, $VXX
- The Trump Rally extends into the New Year for a 6th straight session
- Economically, if there ever was an “insane” President it was Barack Hussein Obama,
|Strong: Financials, Healthcare, Industrials|
|Weak: Energy, Technology, Consumer Staples, Utilities, Telecom Services, Real Estate|
Wall Street’s major stock market indexes finished higher Tuesday as healthcare, financials and industrial’s gained in the run up to the Quarterly earnings season set to start unofficially Friday.
Stocks continued their winning streak as investors extended their bets on The Trump Administration, a improving economy and expectations of corporate profits will get a boost from the Trump tax cuts.
Historically, the 1st 5 trading days of January can be an indicator for the market’s direction for the full year, that according to the Stock Traders Almanac, Tuesday is the 6th day of market highs.
Sunday, President Trump Tweeted: ‘The Stock Market has been creating tremendous benefits for our country in the form of not only Record Setting Stock Prices, but present and future Jobs, Jobs, Jobs. Seven TRILLION dollars of value created since our big election win!”
And then what happened?
Tuesday, the major US stock market indexes finished at: DJIA +102.80 at 25385.80, NAS Comp +6.19 at 7163.58, S&P 500 +3.58 at 2751.29
Volume: Trade on the NYSE came in at: 801-M/shares exchanges
Declining issues outnumbered advancers on the NYSE by 1,579 to 1,216. On the NAS, 1,429 issues fell and 1,400 advanced.
- NAS Comp +3.8% YTD
- S&P 500: +2.9% YTD
- DJIA: +2.7% 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 (0.65)||Very Bullish (0.58)||Very Bullish (0.77)||Very Bullish (0.58)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Bullish (0.48)||Bullish (0.40)||Very Bullish (0.73)||Bullish (0.33)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Very Bearish (-0.51)||Very Bearish (-0.52)||Very Bearish (-0.69)||Bearish (-0.33)|