Wall Street Caps 5-day Losing Streak, Posts Broad Based Rally

Wall Street Caps 5-day Losing Streak, Posts Broad Based Rally

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

FLASH: Investors extend Friday’s Bull run off of the 50-Day MA support for a broad-based advance; all 11 S&P 500 sectors close higher on the day

Wall Street finished on a high not Monday as the technology sector led a broad-based rebound that stated last Friday, but a fall in Boeing’s (NYSE:BA) shares limited DJIA’s advance after a deadly airline crash in Ethiopia.

All 11 S&P sectors rose, led by gains in the tech sector, which was up 2.2%. The industrial sector finished up 0.9%.

In Washington, President Trump told Congress to slash funding for foreign aid and the State Department and increase spending for the military and the wall he wants to build on the US-Mexico border in hisY 2020 budget, the opening move in his next funding fight with Congress.

Monday, the major US stock market indexes finished at: DJIA +200.64 at 25650.88, NAS Comp +149.62 at 7557.78, S&P 500 +40.23 at 2783.26

Volume: Trade on the NYSE came in at 920-M/shares exchanged

Advancers outnumbered decliners on the NYSE by 3.69-to-1, and on NAS, 3.31-to-1 advanced.

The S&P 500 posted 31 new 52-wk highs and 2 new lows, the NAS Comp recorded 57 new highs and 34 new lows.

  • Russell 2000 +14.9% YTD
  • NAS Comp +13.9% YTD
  • S&P 500 +11.0% YTD
  • DJIA +9.9% 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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