It was another solid week on Wall Street as investors digested a slew of earnings and economic data. The major indices overcame a mid-week sell-off and ended higher after several well-known tech stocks reported strong numbers and GDP beat estimates. Buyers showed up on Friday after: Alphabet, Amazon, and Microsoft were some of the well-known…
Stocks Race Higher As Earnings Season Kicks In Stocks soared last week. Hope of a tax cut was renewed. The vast majority of earnings (that were announced) beat estimates. The market went from being extended to being VERY extended! Buyers continued to show up and aggressively accumulate stocks. From any normal perspective, the market is…
The market was relatively quiet last week as earnings season officially began. The major indices remain perched below record highs as the bulls continue to dominate the landscape. The fact that there remains virtually no selling is a net positive for the bulls. In the short-term, the market is extended to the upside and a…
The S&P has closed at a record high six straight days which is its longest run of the millennium (since 1997)! Stocks rallied sharply last week as the bulls remain in clear control of this market. At this point, the market is now extended (in the short term) and remains very strong. It is important…