Monthly Archives: January 2017

Traders Finally Don The Caps

Well it finally happened. Dow 20K, that is. And yes, there were hats – lots of hats. Photo Credit: WSJ.com After struggling with the big, round number since the middle of December, the venerable Dow Jones Industrial Average finally broke above the 20,000 level and closed Wednesday at a new all-time high of 2068.51. The…

Basic Materials: Real Stuff Is Rising

I would like to update the Basic Materials sector as this area now looks like it’s ready to resume its bull market. Also with the stock markets breaking out today, especially the INDU, this adds another layer of confirmation that the breakout is the real deal. As we’ve discussed previously there are many big cap…

Chicago Fed: Economic Growth Increased In December

“Index shows economic growth increased in December.” This is the headline for today’s release of the Chicago Fed’s National Activity Index, and here are the opening paragraphs from the report: Led by improvements in production-related indicators, the Chicago Fed National Activity Index (CFNAI) increased to +0.14 in December from –0.33 in November. Three of the four…

E

Technically-poised to breakout – Over the past several sessions (led by the NY Comp and NASDAQ, while Oil bears got trapped as hoped for), we got our forecast post-Inauguration ‘relief rally’ upside resumption we were pointing to with recognition that most Indexes were already at new highs, with the achievement by the Dow Industrial Average…