If you would like an email sent to you when I update the blog please send an email with "subscribe" in the subject line to traderbob58@gmail.com. To be removed use "unsubscribe".

Search This Blog or Web

Friday, April 5, 2019

Daily update 4/5

More positive trade talks, more up.  It is as simple as that.

SPX closed at a new rally high and is closing in on the all time high.  Breadth was +69%.  New highs were up a bit to 116, but not nearly as high as a few days ago (162).  New lows dropped to 7.  Volume was pretty light that last two days.

Not much to say about the futures.

SPX keeps on creeping higher.  This is rather interesting.  The market seems totally focused on trade talks with China.  Nothing else matters.  Will the coming earnings season change the focus?  The breadth of this rally suggests SPX could make a slight new high.  However, it does not tell us if it will end up truly breaking out and going higher.  If SPX fails at some point it will likely be because of global economic weakness. 

Have a great weekend.


No comments:


The information in this blog is provided for educational purposes only and is not to be construed as investment advice.