$DIA, $SPY, $QQQ, $RUTX, $VXX
FLASH: US stocks finished flat on high volume
We expect that US stocks will continue to move North new highs despite an earnings slowdown, that according to the patterns that are set/setting up now.
HeffX-LTN is going contrarian Vs the Bears who are warning investors that the earnings slowdown will derail the Y 2019 rally.
There is some Bearishness because the comparisons for earnings on a Y-Y basis are probably go to be flat, or a bit negative in 1-H of this year.
We expect to see an economy that is growing with growing earnings too.
The Big Q: Why are stock prices continuing to rebound from last year’s Christmas Eve low now that everyone is curbing their enthusiasm for earnings with some alarmists predicting that that low will be tested once companies confirm how bad earnings are this year?
The Big A: Good Q, the stock market rocketed off the December lows and 10-Year Treasury yields under 3% is the ideal environment for a strong Northside move.
“We never really got credit for the fundamentals of last year. Earnings were up almost 25 percent last year, and the market took a dive at the end of last year taking away about 6% from the S&P 500,” Ed Yardini said in a notee, “Some of this is just catching up to the underlying fundamentals which were really extraordinarily good.”
Thursday, the major US stock market indexes finished at: DJIA -69.16 at 25916.00, NAS Comp -21.98 at 7532.56, S&P 500 -7.89 at 2784.45
Volume: Trade on the NYSE came in at 1.3-B/shares exchanged
- Russell 2000 +16.8% YTD
- NAS Comp +13.5% YTD
- DJIA +11.1% YTD
- S&P 500 +11.1% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.
DIA, SPY, QQQ, RUTX, VXX , DJIA, technical, outlook, stocks, Bullish, fundamentals, Treasuries, bears, economy, growing,