US Stocks Mark Record Highs Again, US Tax Reform on Deck

US Stocks Mark Record Highs Again, US Tax Reform on Deck

US Stocks Mark Record Highs Again, US Tax Reform on Deck

$DIA, $SPY, $QQQ, $VXX

Stocks kicked off this week on a positive note after Republicans reached an agreement on the shape of US tax cuts.

The US Dollar (.DXY) Index fell and US Treasuries finished mixed on the day.

The S&P 500 Index and NAS Comp marked new highs Monday as investors focused on the progress of the proposed tax legislation.

Midweek votes in the US House of Representatives and Senate are planned on a measure that will reduce corporate and individual tax rates.

US lawmakers are aiming for the bill to land on President Trump’s desk for a signature before Christmas.

On the passage of President Trump’s historic tax reform, Shayne and I believe that there is room to run.

I is hard to say what is or is not priced into the markets, but we believe it will be to the Northside.

The Trump Rally is phenomenal, all traders that we interface with daily agree.

Monday, the US major stock market indexes finished at: DJIA +140.46 at 24792.20, NAS Comp +58.18 at 6994.76, S&P 500 +14.35 at 2690.16

Volume: Trade on the NYSE came in at: 921-M/shares exchanged.

  • NAS Comp +29.9% YTD
  • DJIA +25.5% YTD
  • S&P 500 +20.2% YTD
  • Russell 2000 +14.1% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Very Bullish (0.66) Very Bullish (0.56) Very Bullish (0.83) Very Bullish (0.58)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Very Bullish (0.61) Very Bullish (0.67) Very Bullish (0.58) Very Bullish (0.58)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Very Bullish (0.50) Bullish (0.33) Very Bullish (0.52) Very Bullish (0.64)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.45) Bearish (-0.49) Very Bearish (-0.57) Bearish (-0.29)

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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