Tag: Bitcoin (BITSTAMPUSD)

Hello traders everywhere. After a record week, the stock market is coasting into the weekend on subdued trading after hitting record highs at the open and posting a weekly gain. The NASDAQ topped the 9,000 mark for the first time Thursday, closing in record territory, lifted by a jump in Amazon shares on a record holiday shopping season. The NASDAQ has risen for 11 straight days, the longest winning streaking since July 2009.

The NASDAQ leads the way with a weekly gain of +1.1%, followed by the DOW with an increase of +.80%, and the S&P 500 will post a weekly gain of +.70% bringing up the rear. However, the S&P 500, which is up 29.2% in 2019, is really close to reaching historic proportions. The index will post its best year since 1997, with an annual gain of more than 29.6%.

Friday marks day three of the so-called Santa Claus rally period, which is historically beneficial for stocks. Since 1950, the S&P 500 has rallied an average of 1.3% during the final five trading days of the year and the first two sessions of the new year, according to the Stock Trader's Almanac. Continue reading "Stock Market Coast Into Weekend" →

Hello traders everywhere. I feel like a broken record, but once again, the S&P 500 and stock market is hitting record highs as we head into Friday afternoon trading and the end of the trading week.

Entering Friday's afternoon session, the S&P 500 was up +1.7% for the week and was headed for its fourth consecutive weekly gain. The DOW and NASDAQ were up +1.2% and +2.1%, respectively, for the week marking their second straight week of gains.

The S&P 500 is up nearly 28% year to date, with less than 10 trading days left in 2019. That would be the index’s best one-year performance since 2013 when it rallied 29.6%. Not be outdone the NASDAQ index has jumped 34% in 2019.

Stocks tend to carry such strong momentum into the following year. Data compiled by Nordea Research shows the S&P 500 posted positive returns the year after rallying more than 25% in 12 of 18 occasions. Continue reading "S&P 500 Posts Fourth Week Of Gains" →

Hello traders everywhere. In early trading, the stock market was once again setting record highs on the back of an approved phase-one trade deal with China. Those record highs have triggered new green weekly Trade Triangles for the DOW and S&P 500, indicating that we are now back in strong long-term uptrends. On the flip side, the U.S. Dollar Index has not fared so well, issuing a new red monthly Trade Triangle indicating that the dollar is under pressure and entering a long-term downtrend.

However, the euphoria has since dissipated, and the major indexes have dipped into negative territory for the day. All three indexes will post weekly gains of roughly S&P 500 +.57%, DOW +.32%, and the NASDAQ with an increase of +.81%.

The trade deal will include a rollback of some of the China tariffs and halts additional levies set to take effect on Sunday. China agreed to significant purchases of U.S. agricultural products but failed to give a specific amount, disappointing some investors who expected a firmer commitment. Continue reading "Stocks Falter After Phase-One Trade Deal" →

Hello traders everywhere. The S&P 500 came into Friday's trading session down -0.7% for the week, but Friday's strong gains helped the index recover those losses, and it was able to squeak out an increase of +.16%. The DOW and NASDAQ each entered Friday, trading down more than -1% week to date. They were able to end the week down only down -0.1% each for the week after the session began.

The reason stocks were able to shake off the early week losses was U.S. job growth that easily topped analyst expectations, which helped Wall Street wrap up a choppy week of trading on a high note. However, the NASDAQ is the only index of the three that was able to avoid triggering a red weekly Trade Triangle this week.

The U.S. economy added 266,000 jobs in November, according to figures released by the Labor Department. Economists polled by Dow Jones expected a gain of 187,000. The unemployment rate fell to 3.5%, matching its lowest level since 1969. Continue reading "S&P 500 Erases Early Week Losses" →