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October 21, 2017 – Weekend Market Comment

October 21, 2017 – U.S. stocks closed higher on Friday after the Senate took a step toward achieving tax reform.

The Dow Jones industrial average rose 165.59 points to 23,328.63, reaching intraday and closing records. Boeing and Goldman Sachs both rose about 2 percent to lead advancers. Shares of JPMorgan Chase, meanwhile, hit an all-time high after jumping 1.4 percent. The S&P 500 also notched record highs, advancing 0.5 percent to close at 2,575.21 as financials led advancers by rising 1.2 percent. The NASDAQ composite gained 0.4 percent to 6,629.05 in a record-setting session.

Here is what our charts say:

CLICK HERE: To see the 100 and 200 series charts

101 Bull Bear Bull market (dark green over red)  the dark green 50 day average is in a rising uptrend. Notice the 50 day slope second window, could this be a long term trend change? BULLISHBull market -- expect bullish outcomes. ! 103 NYSE High Low Market Forces Breadth lines firm up! BULLISH

105 Non Farm Payroll Lots of jobs!…
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October 14, 2017 – Weekend Market Comment

October 14, 2017 –U.S. stocks reached record highs on Friday as investors bet on another strong earnings season. The NASDAQ composite advanced 0.2 percent to 6,605.80 and notched intraday and closing records. The S&P 500 finished 0.1 percent at 2,553.17 and hit an all-time intraday high, with information technology and materials leading advancers. The Dow Jones industrial average closed 30.71 points higher at 22,871.72. The 30-stock index also hit an intraday record.

It might be a new high, but the curve is consolidating sideways as the market digest the latest moves up. 

Bank of America jumped 1.5 percent on better-than-expected earnings. Netflix added 1.9 percent, crossing above $200 for the first time to an all-time high as investors bought the stock ahead of its earnings next week. The three major indexes posted slight weekly gains. The S&P 500 and the Dow recorded their fifth consecutive weekly gains, while the NASDAQ has completed three.

Here is what our charts say: