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SHORT TERM: IBM powers DOW, DOW+160 Overnight the Asian markets were mixed. Europe opened higher and gained 0.4%. US index futures were higher overnight, and at 8:30 both housing starts and building permits were reported lower. The market opened at SPX 2564, a new high, and naturally following recent patterns, began to pullback. Around 11:30 […]
SHORT TERM: DOW hits 23k, DOW +40 Overnight the Asian markets gained 0.1%. Europe opened lower and lost 0.1%. US index futures were relatively flat overnight. At 8:30 export/import prices were reported higher, then at 9:15 industrial production and capacity utilization were reported higher too. The market opened unchanged at SPX 2558, dipped, hit the […]
SHORT TERM: higher open, then pullback, DOW +85 Yesterday FED chair Yellen gave a speech: https://www.federalreserve.gov/newsevents/speech/yellen20171015a.htm. Overnight the Asian markets gained 0.6%. Europe opened higher and gained 0.1%. US index futures were higher overnight, and at 8:30 the NY FED was reported higher. The market opened at a new high, SPX 2559, and immediately began […]
REVIEW The week started at SPX 2549. After a small pullback to SPX 2542 on Monday, the market made a new high at SPX 2555 on Tuesday, retested that high on Wednesday/Thursday, then made a new high at SPX 2558 on Friday. The entire range for the week was SPX 2542-2558. For the week the […]
No Friday update today, Weekend update tomorrow.