US Stocks Still in Rally Mode

US Stocks Still in Rally Mode


The US and China kicked off a 2-day round of trade talks in Beijing on Monday. President Trump is optimistic.

President Trump to address the Nation on border security Tuesday evening.

The S&P 500 gained 0.7% Monday, marking its 4th day of gainers in the last 5 sessions. The DJIA gained 0.4%, the NAS Comp gained 1.3%, and the Russell 2000 outperformed with a gainer of 1.8%.

The major US indexes opened the session some quiet buying interest. The S&P 500 briefly dipped into negative territory (-0.3%), but the dip did not gain any traction as the benchmark index steadily climbed to session highs (+1.4%) by early afternoon.

This resistance to the selling following huge gainers last Friday created some FOMO (fear of missing out) on further gainers that helped drive prices North

Stock began to lose steam at around 1:45p EST, shortly after President Trump tweeted that he will address the nation over border security Tuesday evening.

Nevertheless, selling did not gain much traction, as 9 of the 11 S&P 500 sectors finished the session in the Green. The consumer discretionary (+2.4%) and energy (+1.3%) sectors outperformed, while the consumer staples (-0.3%) and utilities (-0.7%) groups dragged on the broader market.

Retail was a consistent group that out-preformed on the day.

Monday, the major US stock market indexes finished at: DJIA +98.19 at 23531.35, NAS Comp +84.61 at 6823.48, S&P 500+17.75 at 2549.65

Volume: Trade on the NYSE came in at 1.0-b/shares exchanged

  • Russell 2000 +4.2% YTD
  • NAS Comp +2.8% YTD
  • S&P 500 +1.7% YTD
  • DJIA +0.9% YTD

HeffX-LTN’s overall technical analysis for the major US stock market indexes is Neutral 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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