Stocks are up three weeks in a row and have literally rallied every week since Trump took office. The market closed at fresh record highs as buyers continue to accumulate stocks. Stepping back, this is beginning to feel like the very early stages of a 1999 style climax/blow-off top. Of course, we are open for…
We mentioned last week that the market was extended and due to pullback. Well, we got the pull back but it only lasted a few days. Stocks rallied last week as investors digested a slew of economic, earnings, and central bank data. The big take-away is that the bulls remain in clear control of this…
The bulls have been waiting for a catalyst to send the Dow above 20k and it turned out to be Trump’s first week in office. The Dow broke above 20k and the S&P 500 briefly broke above 2,300 over the past few days. The key now is to see if the gains can hold. Elsewhere, the…
Stocks ended lower last week as the market simply pauses to consolidate a very strong post-election rally. The major indices were very extended from the norm and are simply pulling back a little to consolidate a very strong rally. The small-cap Russell 2000 pulled into its 50 DMA line, which is the next logical area…