Negotiators from both parties say they have a tentative deal to avoid a US government shutdown https://www.cnbc.com/2019/02/12/neg...n-principle-to-avoid-government-shutdown.html Not sure if this deal includes the wall funding, so Trump could still veto. Futures did go up a little bit on this headline though
Good Tuesday morning to all. Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a good trading day ahead today.
Morning Lineup – Small Business Confidence Sags Feb 12, 2019 Deal or no deal? That is the question for today as Congressional negotiators have apparently reached an agreement on averting a government shutdown. Now the only question is whether or not the President will go along with it. We’ll be on the lookout for the tweet! US equity futures are trading higher on the news, and while yesterday’s last hour did not see a big rally, it was the eighth straight day of gains in the final 60 minutes of trading! Small business optimism came in significantly weaker than expected today falling from 104.4 down to 101.2. That 3.2 point decline was the largest m/m drop since June 2015. While a big drop is concerning, the temporary factor of the government shutdown probably played a large role. Also, looking at a long-term chart, peaks in the NFIB index haven’t exactly been the best timing indicators of a recession. On a shorter-term basis, though, the recent declines in the NFIB optimism index are notable in the fact that this month’s reading is now the lowest since November 2016. In other words, nearly all of the boost in small business sentiment since the 2016 election has worn off. That right there is probably the number one reason the shutdown ended in late January!
Pretty interesting that the market didn’t go down when the shutdown happened, but market rallying when we apparently have a deal now
Trump says he is open to letting March 1 deadline for China tariffs slide https://mobile.twitter.com/CNBC/status/1095373699862155264
so...new ATHs by the beginning of spring anyone? good call to whoever it was on here (@Stoch or @Steven_Burt on the daily comps?) that was calling for a retest of the 200ma this week. don't have the chart in front of me but i suspect we're either at or over it now on the daily? nothing goes in a straight line (up or down) but kind of significant to recapture that longer term moving avg...obviously one close over it isn't enough, so we'll see if we can get a few closes over it in the days/weeks to come. whatcha guys got for next resist levels? @Steven_Burt @Stoch @Three Eyes @Frankenstein @anotherdevilsadvocate @stock1234 tagging you guys as well
I have 2785.84, from the June 13 high. Probably a pull back to the ma(9) at some point to rest before we test it.
still early but dj30 up for 7 weeks in a row, the longest streak since it did 8 in row in 2017. the record is 14 in a row back in 1965 ... it would have to double this current streak to match that thought this was also an interesting chart, but thus far in 2019 the spx has closed green 72.4% of all the trading days ... this is way above any year ever. however, it's still much too early in the year and anything can happen between now and eoy ... not really sure if anyone actually thinks this will hold by year end but interesting nevertheless
Good Wednesday morning to all. Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a good trading day ahead today.
Morning Lineup – Optimism on Trade and a Truce in DC Feb 13, 2019 Lawmakers in DC have reportedly come to an agreement on keeping the government open, and the President has agreed to go along with it. Can you believe it?? Elsewhere overnight, there is some optimism on US-China trade talks, while economic data in Europe continues to stink up the joint. Yesterday was a pretty momentous day for the stock market. Not only did the S&P 500 close back above its 200-DMA (barely), but the percentage of stocks hitting new highs also reached its highest point since December 3rd, before the big whoosh lower. With the rally, though, the percentage of stocks that are short-term overbought has reached its highest level since January 26th of last year. That by no means suggests we are due for a repeat of what happened following that last reading, but does indicate that short-term technicals are getting a bit stretched and that the market may need to pause and catch its breath.
Took some medicines and feeling sleepy, so I am taking a day off from the market. Took a quick look and it seems like another pretty nice green day We probably hit a new ATH at some point before the summer if we don’t get some really bad news on trade deal with China
hopefully nothing serious? feel better soon @stock1234 i'm inclined to agree there interesting how the spx never did actually officially dip into bear territory on a close to close basis. i believe the official peak to trough correction from the sept. ATH close to the dec. low close was something like -19.87% Spoiler: Click to Show! kinda significant in that it keeps the bull market alive, with a shot at potentially making this the longest running bull in history, surpassing the raging 90s run. i think march of 2021 (so about 2 more years) would officially make this the longest running bull ever, absent an official -20% correction from now 'til then (which amazingly we've avoided to do up to this point )
Thanks Cy. Feeling ok, I just had some kind of vertigo that I experience once in awhile. Not feeling the vertigo now just a little tired after taking medicines. Haha, I didn't know it was that close for the SPX hitting the bear market territory until you mentioned it here This market has been pretty much going higher non stop after the FED turning dovish For now I would think this bull market will end before March 2021, but I guess we will see If somehow we avoid global recession before March 2021 then maybe we will see the longest bull market ever
