It was a bullish week for US equity indexes, with net weekly gains ranging from +5.0% (Transports), +4.6% (Nasdaq comp'), +3.9% (NYSE comp'), +3.8% (SPX), to +3.3% (Dow).
Lets take our regular look at five of the main US indexes (monthly candle charts)
All five US equity indexes settled net higher for the week.
The Transports lead the way higher, with the Dow lagging.
More broadly, all five US equity indexes are trading above their respective monthly 10MA, and I see the m/t trend as bullish.
To deem the l/t trend as bullish, I need to see m/t support hold for 18mths from the month where the market settled above its 10MA. In the case of the SPX, that was May, and would take us to Oct'2021, which is clearly a considerable way out.
It will be the start of Q3 earnings season.
T - JNJ, C, DAL, BLK, FAST
W - BAC, UNH, WFC, GS, PNC, USB, UAL, AA, SNBR, ACCD, HCCI
T - APHA, WBA, TSM, MS, SCHW, ISRG, TACO
F - ALLY, SLB, BNY, JBHT
M - *Trump rally, 5pm EST - Florida*
T - CPI
W - PPI
T - Weekly jobs, Phil' fed, Empire state', Import/export prices
F - Retail sales, indust' prod', consumer sent', business invent' *OPEX*
|The early hours of Oct'11th|
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Have a good weekend
*the next post on this page will likely appear 5pm EDT on Monday.