8:47:59 PM EDT |
Waiting for Inauguration Day
The stock market has been hold for several weeks following the initial "Trump" rally. That hope-filled rally is now facing the reality that all the changes that would help the stock market might struggle to become reality. Now it's waiting for some additional information that will support a continuation of the rally and many are expecting disappointment instead.
9:52:24 PM EDT |
Normal storms do not bother the equity market but this storm could cause serious damage.
9:54:34 PM EDT |
Five Week Pattern
For the last five weeks, the Dow has traded in a narrow 250-point range and still has not hit 20,000.
5:28:32 PM EDT |
Indices fell in the wake of Trump's 1st press conference post-election.
8:04:07 PM EDT |
Bulls Keeping the Bears Away
The stock market's rally looks tired and the bears are licking their chops while eyeing the bulls as just slabs of beef. But the bulls keep going and keep frustrating the bears by aborting any selling attempts. This could continue into next week.
9:26:46 PM EDT |
Which Way Did They Go?
The market reminds me of an old Abbott and Costello routine, Which Way Did They Go.
5:48:04 PM EDT |
Treading Water, Waiting
The indices tread water, once again, just below current all time highs waiting on earnings, the economy, the FOMC and Trump's inauguration.
7:54:20 PM EDT |
The Dow came very close to the 20,000 level only to miss it by 0.37 of a point.
7:30:37 PM EDT |
Almost, But Not Quite
The Dow came within spitting distance of 20K yet again, and backed away, again, while a wave of Trump-Tweets washes over the market.
8:21:46 PM EDT |
Santa Is Late To the Party
I'm guessing Santa partied a little too hard in the days leading up to Christmas and he was too hung over to help the market rally in the final week of 2016. But he showed up the past two days to finish out the period known as the "Santa Claus" rally. Now we wait to see if he can make up for last week's loss.
9:50:31 PM EDT |
After a week of declines, the Santa Rally returned to lift the Dow by +175 points at the open.
7:50:09 PM EDT |
Happy New Year
Regardless of what January brings, I expect 2017 to be a very good year!