US Markets are Comfortable, Now Focused on Earnings

US Markets are Comfortable, Now Focused on Earnings

US Markets are Comfortable, Now Focused on Earnings

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

  • Carry-over momentum from S&P 500 breakout last Thursday drives stocks higher for 3rd session running
  • Top-weighted tech group under-performs, keeping gainers in check
  • Cyclical financials, industrials, and energy groups soar
  • Traders satisfied the President Trump is focused on the business of America

Monday, US Stocks rallied for a 3rd consecutive session as investors set their sights on the Q-2 earnings season, which unofficially kick off Friday.

The S&P 500 and the NAS Comp each advanced 0.9%, and the DJIA added 1.3%, climbing back into the Green YTD.

The market started in the Green and climbed steadily throughout the session.

Monday, growth-sensitive sectors were the top-performing groups, underlining a risk-on attitude from market participants.

Financials (+2.3%), industrials (+1.8%), and energy (+1.5%) finished on Top the sector standings, while the Top-weighted information technology space (+0.8%) lagged

Monday, trade on the major US stock market indexes came in at: DJIA +320.11 at 24776.59, NAS Comp +67.81 at 7756.22, S&P 500 +24.35 at 2783.91

Volume: Trade on the NYSE came in at 744-M/shares exchanged

  • NAS Comp +12.4% YTD
  • Russell 2000 +11.0% YTD
  • S&P 500 +4.1% YTD
  • DJIA+0.2% YTD

HeffX-LTN Technical Analysis for the US Major Stock Market Indexes

Date Symbol Price Technical Analysis Support Resistance
9 July 2018 QQQ 176.51 Bullish (0.30) 175.78 177.69
9 July 2018 DIA 246.5 Neutral (0.00) 245.71 250.79
9 July 2018 SPY 275.42 Bullish (0.26) 273.72 277.95

Stay tuned…

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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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