US Stock Indexes Pull Back from Record Highs

US Stock Indexes Pull Back from Record Highs

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

The US stock market indexes ended Thursday near session lows after spending the day in the Red.

The DJIA (-0.5%) and S&P 500 (-0.5%) posted comparable losses while the NAS Comp(-1.0%) under-performed during the session.

The top-weighted technology sector (-0.8%) was among Thursday’s weakest, while most of the remaining cyclical sectors recorded slim losses.

The energy sector (-1.2%) was an exception, finishing at the bottom of the leader-board, even though Crude Oil ticked up 0.2% to 56.03 bbl.

On the international front

The European Central Bank released a Dovish policy statement, and ECB President Draghi made it clear that the central bank intends to take steps to increase inflation in the Eurozone. Though he did not announce any new measures Thursday.

Thursday, the major US stock market indexes finished at: DJIA -128.99 at 27140.98, NAS Comp -82.96 at 8238.54, S&P 500 -15.89 at 3003.67

Volume: Trade in the NYSE came in at 844-M/shares exchanged
NAS Comp+24.2% YTD S&P 500 +19.8% YTD DJIA +16.4% YTD Russell 2000 +15.8% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.

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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