Despite some moderate weakness into the afternoon, it has been another day for the equity bulls, with the broader upward trend resulting in another pair of new highs (sp'500/NYSE comp'). With just 3 trading days left of the month, most indexes are set for net monthly gains of around 2%.
*notable weakness in the R2K, -1.1%.. sitting on rising trend that stretches back to October.
Despite the currently red indexes.. it is utterly a joke for any of the doomer bears to be calling this anything than what it really is... another day when the broad based sp'500 achieved a new historic high of 2125.
Back in early summer 2013 when I waved the white flag against the deflationary collapse scenario - that many still cling to... well, we were in the sp'1500s then.
We simply won't be trading under those levels... again.
notable strength: AAPL, +0.9% in the $131s.
Without question, one of the top 3 tech companies in the world.. set to report in AH.. probably around 4.30pm. The $140s are just about possible if expectations are surpassed.
back at the close