Christmas Rally Continues!
Merry Christmas and Happy Holidays! Mr. Trump is impeached in US Congress. Market has paid no attention to this development indicating that his economic policies are what’s important & he will be exonerated in Senate trial. Market closes the week to new high. Boris Johnson’s pushes for end of the year BREXIT. We expect […]
Read More
Hot Job Market Report!
Friday’s strong Job report pushes all three major indices close to high. Late last week and early this week complacency put the market on skids. Job report on Friday was strong adding 266,000 new jobs and putting unemployment at historically low of 3.5% Markets bounced off 21DMA nicely. Leaders acted well in this short-term correction. […]
Read More
Seasonal Uptrend continues!
HAPPY THANKSGIVING!!! All three major indices are holding up well trading above 10DMA despite low volatility. Economic news was good. The Philly Fed Manufacturing survey was strong 10.4 actual vs 7 estimated. Leading economic indicators fell in October by 0.1% vs 0.2% drop expected. Santa Claus rally continues with many reasons. Earnings picture looks bright. […]
Read More
Seasonal Uptrend!
All three major indices made new highs. Trade deal seems to be close as per statements from Presidential Economic Advisor Larry Kudlow. Economic news was good. . Retail sales reports came in favorably helping stocks to move up. It’s beginning to look a lot like a Santa Claus rally as the S&P 500 pushes toward […]
Read More
Market follow thru continues!
After overcoming resistance on both major indices’ week earlier, market followed up nicely this week with new highs. Trade Deal seems to be making progress from statements from China and White House. Economic news was good. Earnings reports are coming favorably helping stocks to move up from sound bases built over last two months. We […]
Read More
Solid economic news drives markets higher
The stock market overcame resistance on both major indices and closed at new highs. Economic news was good. FED cut interest rate, economy added 128,000 jobs in October and GDP grew 1.9% in Q3. Earnings reports are coming favorably helping stocks to move up from sound bases built over last two months. Background news are […]
Read More
New Highs!
The stock market is trying to overcome resistance near 8250 level for NASDAQ and 3030 on SP500. Support level at 8000 held well. Market is responding positively to news. FED meeting this week can tilt the market one way or the other. UK Parliament voted ‘yes’ for BREXIT deal but “no’ on timeline. This could […]
Read More
Global Economic Concerns!
The stock market ran into resistance near 8250 level for NASDAQ on Thursday. Support level at 8000 need to hold for the optimism over trade talk cease fire to hold. Investors ignored the generally favorable earnings reports to fret over global economic concerns. China reported lower than forecast 6% GDP growth in Q3, the slowest […]
Read More
Trade Deal Hope propel market!
The stock market powered higher Friday afternoon as Wall Street grew optimistic about the outcome of trade talks with China. President met with Chinese Vice Premier Liu He. It resulted in the announcement of the partial trade deal, which could set up a truce in the U.S.-China trade war. Trump said the agreement is “very […]
Read More
August lows test not over yet!
After strong back to back selloffs on Tuesday and Wednesday to 200DMA, the market bounced back strongly on Thursday and Friday to close the week only 0.2% down. Sideways action continues. VIX indicator still trading above 50DMA indicating environment is still choppy. The impeachment train is gathering steam as the developments are coming thick and […]
Read More