now just waiting on the DJ30 and NYSE comp to join in on these new ATHs dow theorists ready to throw a bull party Spoiler: Click to Show!
Finally It took nearly seven months, but the S&P 500 Index finally closed at a new all-time high on Friday. Many clues along the way suggested new highs could eventually come, like strong overall market breadth and excellent earnings growth. Still, the big question now is, what happens next? “Investors have been patiently waiting for new highs in the S&P 500, even while small caps and technology have been making new highs for months now. Here’s the good news: When the S&P 500 has gone at least six months without a new high, the index has been higher a year after the next new high in 17 out of the past 18 instances, going back to 1950,” explained Senior Market Strategist Ryan Detrick. As our LPL Chart of the Day shows, long waits between new highs tend to foreshadow strong outperformance in the subsequent year. Could Friday’s new high be another sign that the bull market is alive and well? It very well could be. Two big reasons we see continued equity strength and an extension of this economic cycle are strong earnings and an accommodative Federal Reserve (Fed).
haven't really been following econ. reports too closely of late but just saw the consumer conf. # @ 10am which completely destroyed the estimates and looks like an ATH there?
Chinese internet stocks struggling again today While we are making new highs, China and emerging markets probably not out of the woods just yet
^^ yea wow, china market looks like the complete opposite of our markets since about march while we're now breaking through to new highs, chinese market was hitting new lows as recent as early this month
Thanks Cy Looks like tech driving this market higher today the DOW now just less than 2% away from joining the ATH party and I think the DOW will join the party relatively soon If we get a trade deal done with Canada, probably would be pretty bullish too
EA diving today, they pushed back the release of one game. I think there's weakness in the sector as a whole; looks like ATVI cannot get above the 50 ma, and TTWO has formed a pincer top. Last week the media on Fast Money was pushing video games.
Market reacting negatively to the China tariffs news. KWEB, a Chinese internet stocks ETF is now down well over 3%
The Surprise Bull Move Continues The incredible summer rally continues, as the S&P 500 Index is only two days away from possibly notching a fifth consecutive monthly gain. Not to be outdone, the usually tricky month of August is looking to potentially post one of its best returns going back to 2000. But wait, there’s more: Since 1950, no month has had fewer all-time highs than the month of August, but with two days to go, it has reached new all-time highs for four consecutive days. That hasn’t happened in August since 1987. “This summer rally has caught many investors flat footed, but they may want to consider that more strength could be coming, if history is any guide. Here’s why, as only five times since 1950 has the S&P 500 been higher each month from April until August. In those years, the final four months were higher every single time with some really strong returns,” explains LPL Senior Market Strategist Ryan Detrick. As our LPL Chart of the Day shows, when the S&P 500 is up each month from April until August, September—which is historically weak—is much stronger, and the final four months of the year have done much better than average as well.
