Saturday, 16 July 2016

A week of historic equity highs

It was a third consecutive week for the equity bulls, with the sp'500 net higher by 31pts (1.5%), settling at 2161, with a new historic high of 2169. The Dow saw a net gain of 369pts (2.0%), settling at 18516, having seen a new high of 18557. Unquestionably.... bullish.


Dow, daily


It was just another day for the equity bulls, with a pair of new historic highs in the early morning, and then some rather natural weak chop into the opex-weekend.

The next 8 trading days - into the FOMC of July 27th, threaten some slight cooling. Certainly, the 2130s look probable, but a test of the 2100 threshold won't be easy.

Thanks for the messages/emails, it makes the week far more interesting!

Have a good weekend

*The weekend post will appear Sat' 12pm EST, and will detail the US weekly indexes