US Stocks Hold Record Gains, as USD Declines 

US Stocks Hold Record Gains, as USD Declines 

US Stocks Hold Record Gains, as USD Declines

$DIA, $SPY, $QQQ, $VXX

Thursday, US stocks posted another gainer to finish at a fresh all-time high as gains in defensive shares offset declines sparked by Apple Inc (NASDAQ:AAPL).

US Treasuries were flat, the USD fell on speculation the Fed will maintain its gradual approach to rate tightening.

The S&P 500 wiped out a early dip of 0.5% to close higher for a 5th day running .

The NAS Comp fell the most in 3 weeks with Apple pacing declines after a report that the iPhone maker was dialing back orders on soft international sales

The CBOE Volatility (VIX) Index held above 10, but trimmed an early 15%.

Benchmark 10-year US Treasury yields fell to 2.31%.

Gold approached 1,290 oz

US stock traders awoke to find the S&P 500 headed for its biggest fall since August as negative headlines dampened current risk-on sentiment.

Investors sought the safest assets, from the Swissie to Gold, amid concern over politics in New Zealand and Spain, a sharp drop in Hong Kong shares and the bad news from Apple.

Negative sentiment faded as the US trading day wore on, on the prospect for higher corporate earnings and data showing firmness in the American labor market.

Thursday, the major US stock market indexes came in at:DJIA+5.44 at 23163.04, NAS Comp -19.15 at 6605.06, S&P  500 +0.84 at 2562.10

Volume: Trade on the NYSE came in light again at: 706-M/shares exchanged 

  • NAS Comp +22.7% YTD
  • DJIA +17.2% YTD
  • S&P 500 +14.4% YTD
  • Russell 2000 +10.7% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.58) Very Bullish (0.56) Very Bullish (0.67) Very Bullish (0.50)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Very Bullish (0.52) Very Bullish (0.54) Very Bullish (0.60) Bullish (0.42)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.33) Bullish (0.41) Neutral (0.19) Bullish (0.40)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.35) Bearish (-0.31) Bearish (-0.35) Bearish (-0.39)

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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