But not without a few hiccups!
US JOBS figure beating expectations with unemployment rate at 3.8%, simply translates that there's room for economic growth, Value in stocks and supportive of a strength in the USD to continue contrary to what analysts expectation before the data was released.
US JOBS figure beating expectations with unemployment rate at 3.8%, simply translates that there's room for economic growth, Value in stocks and supportive of a strength in the USD to continue contrary to what analysts expectation before the data was released.
Thus, the US 10 year Treasury yields didn't take long to trade back below 3% with the DOW & NASDAQ back into triple digit rally on the 1st day of the new month of June.
SP500 Overlay NASDAQ
On Price Action & Technical Perspective
SP500 have held well at the 2500 levels the entire time of the market rout which happens to be a relatively good support level drawn from its lower pivotal price point that has served to be the basis and real line of defense for the past months now.
With steady volumes, the roller coaster ride have now been quite stable with the index trading relative in line with the other two major indices. In this case, the overlay NASDAQ chart have been leading the price recovery which is above the all important handle of 7500 levels.
Well within reach as the Three (3) Major US Indices are gaining #momentum from #volume build up. #Valuations from higher stock prices may always be an issue for some #investors, but the real score of having solid #earnings makes up a better part of this #stock #rally to continue.
ReplyDeleteAlthough, not all would agree with a contrary call from #RayDalio market outlook for 2019 which has gotten some attention that a negative view for stocks is in the making.
June 7, 2018 - #MegaTrade101 Finally decided to join the party... WELCOME BACK #DOW 25K!
ReplyDeleteIndeed, a welcome treat that #VALIDATED our Market & Price Call as of June 2, 2018. A Follow Through in all three major Indices moving forward on the 2nd week of June would equally be nice!
The irony of the matter is that its only after the fact whenever prices have moved, would still take time for some to digest the effectiveness of this market call shared before it occurred! :)
ReplyDeleteWELCOME BACK #DOW 25000!
ReplyDeletePrice Update: As of July 13, 2018
#Dow Jones Industrial Ave (#DJIA)
DJIA Currency in USD Currency Index in USD
25,019.95 +95.06 (+0.38%)
#USD Index #DXY #ICE
94.868 +0.040 (-0.04%)
#USDJPY (SPOT) FX Rate #Nikkei225 #TOPIX (N225)
112.478 -0.048 (+0.06%) 22,597.35 +409.39 (+1.85%)
#SP 500 (#GSPC) #NASDAQ Comp(#IXIC)
Currency in USD Currency in USD
2,804.28 +5.77 (+0.20%) 7,842.27 +18.52 (+0.24%)
A 'Market Misdirection' indeed and is now Justifies calling for new record highs, as US Equites are again in triple digit moves even US Treasuries is at 2.97% to this writing. While the DOW at 25185, SP500 at 2821, NASDAQ at 7863 respectively. Price update as of July 24, 2018
ReplyDeleteIndeed, our price call on the DOW at 25500 have been surpassed with a 25587 high as of July 26-27 US sessions and closed on a corrective mode at 25451 levels. The major indices have literally been influenced by tech companies drifting lower the like of FACEBOOK which slowed the rally. Technical outlook for some signifies sentiments may shift due to fundamental issues.
ReplyDelete#DOW Finally Pushes through 25550 for the 2nd time around as it is currently at 25689.09 +186.91 +0.73% along side the #SP500 at 2862.10 +11.70 +0.42% and the #NASDAQ at 7891.96 +32.11 +0.40% in US session. Validating our market & price call dated June 1, 2018
ReplyDeleteA 2nd round of USD pressure comes from no less than Pres. Donald Trump's comments on FED rate hikes and Jerome Powell. ON the other side, Jackson Hole summit might have some refreshing news that may trigger market volatility in the near term.
ReplyDeleteFor now, the US major indices are at pace in revisiting record highs in spite of the US rate differentials between the 10 year treasury yield & 2 year notes are now at 23 basis points. After clearing through our target objectives above 25550, the following updates:
US Major Indices:
DOW at 25,842.11, up by +83.42(+0.32%)
S&P500 at 2,867.85 up by +10.80(+0.38%)
Nasdaq at 7,868.01 up by +47.00(+0.60%)
CCY Corner:
EURO at 1.151980 up by +0.000490 +0.04%
USD DXY at 95.589 down by -0.140 -0.18%
GBP/USD at 1.2866 up by +0.007(+0.55%)
USDJPY at 110.43 up by +0.395(+0.36%)
As a matter of info, what the market is really waiting for is just one of the major element and price level moving forward from one remaining index that would finally bring about some real market volatility.
ReplyDeleteMost importantly, is to have the 'POWER TO ENDURE' market #VOLATILITY especially when consistent narratives supporting trade positions are on the right side of the market.
Reference to: #Momentum Drivers Retest Record Highs
https://megatrade101.blogspot.com/2018/06/us-momentum-drivers-will-retest.html