US Consumer Comfort on Highs

US Consumer Comfort on Highs

US Consumer Comfort on Highs

$DIA, $SPY, $QQQ, $RUTX, $VXX

  • S&P 500 retests its 50-Day Moving Average at 2717

Americans’ sentiment improved to the best mark in 2 months on brighter views of the economy and personal finances, the Consumer Comfort Index reveled Thursday.

Highlights of Consumer Comfort for the Week Ended 24 June 2018
  • Weekly index increased to 57.3, the 3rd straight advance, from 56.5
  • Gauge tracking current views of the economy advanced to 58, the highest since March, from 57.3
  • Measure of buying climate increased to a 9-week high of 49.9 from 49.3
  • Gauge of personal finances rose to 63.9, the strongest reading since April 22, from 63

Key Takeaways

Views about the economy are hovering near the best level since Y 2000 as a strong labor market and durable expansion offset any concerns about the effects of trade tensions.

Lower taxes and a recent decline in gasoline prices are leaving more money in consumers’ pockets, with the survey showing sentiment among those earning less than $50,000 advancing to the highest in data back to Y 2010.

Other Details

  • The gap between high and low-income earners remains about even with historical levels after easing from a record about a year earlier
  • Sentiment among Democrats rose this week to match the highest reading since early March; comfort eased among Republicans from an all-time high the prior week

Thursday, the major US stock market indexes finished at: DJIA +98.46 at 24216.05, NAS Comp +58.60 at 7503.71, S&P 500 +16.68 at 2716.05

Volume: Trade on the NYSE came in at 809-M/shares exchanged

  • NAS Comp +8.7% YTD
  • Russell 2000 +7.1% YTD
  • S&P 500 +1.6% YTD
  • DJIA -2.0% YTD

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

Date Symbol Price Technical Analysis Support Resistance
28 June 2018 QQQ 171.72 Neutral (0.19) 170.48 173.08
28 June 2018 DIA 241.08 Neutral (-0.18) 240.09 245.80
28 June 2018 SPY 271.63 Neutral (0.02) 270.58 273.44

MAGA

 

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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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