The Trump Rally Stays, DJIA Posts 11th Straight Record-High Close
$DIA, $SPY, $QQQ, $VXX
Wall Street finished higher again Friday, with the DJIA extending its streak of record-setting gains to 11 days running, as increases in utilities and other safety plays outweighed declines in financials.
Major Wall Street indexes have rallied to record levels since the Election of Donald Trump as US President, boosted by vows of tax reforms, reduced regulations and increased infrastructure spending.
Stock indexes were in negative territory into the final mins of the trading session.
Veteran financial guru and former Ronald Reagan adviser Larry Kudlow says that the Bull Market raging since Donald Trump’s victory is far from over.
“I’d stay with The Trump Bull Market,” he said Friday on TV.
“But remember this, behind The Trump Bull Market is an unexpected surge in corporate profits, which is the mother’s milk of stocks,” he said.
” I think the foundation from rising profits is great and I think the expectations of Trump getting his pro-growth tax cut plan is great,” Mr. Kudlow said.
Friday, the major US stock market indexes finished at: DJIA+11.44 at 20821.76, NAS Comp +9.80 at 5845.33, S&P 500 +3.53 at 2367.34
Volume: Trade on NYSE heavy, 1.12-B/shares were exchanged
Note: The US stock indexes held a modest loss throughout the majority of Friday’s session, but the cautious sentiment was an illusion as Bulls bought the dip and pushed the stock market into the Green during the final mins of Friday’s session.
- NAS Comp +8.6% YTD
- S&P 500 +5.7% YTD
- DJIA +5.4% YTD
- Russell 2000 +2.8% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Bullish (0.31)||Neutral (0.22)||Bullish (0.34)||Bullish (0.38)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.31)||Neutral (0.17)||Bullish (0.48)||Bullish (0.29)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Very Bullish (0.58)||Bullish (0.46)||Very Bullish (0.69)||Very Bullish (0.58)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.36)||Bearish (-0.41)||Bearish (-0.34)||Bearish (-0.33)|
Have a terrific weekend.
Latest posts by HEFFX Australia (see all)
- Geely Automobile (0175.HK) Technical Outlook - August 11, 2020
- Sino Land Company (0083.HK) HEFFX Technical Analysis - August 11, 2020
- A Closer Look At China Overseas Grand Oceans Group (0081.HK) - August 10, 2020