It was a bullish week for most US equity indexes, with net weekly changes, ranging from +3.6% (Trans), +0.9% (Nasdaq comp'), +0.8% (R2K), +0.5% (Dow), +0.3% (SPX), to -0.1% (NYSE comp').
Lets take our regular look at six of the main US indexes (monthly candle charts)
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
Five US equity indexes were net higher for the week.
The 'old leader' - Transports, was powerfully higher, whilst the NYSE comp' was fractionally lower.
The NYSE comp' broke a new hist' high.
More broadly, all six US equity indexes are trading above their respective monthly 10MA, and have positive monthly momentum.
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Looking ahead
Earnings:
M - $TOL $MAMA $PHR $OOMA $CMP
T - $CPB $SAIL $ASO $AZO $ARQQ $CGNT $OLLI $KFY $CAL $FERG $GME $CBRL $AVAV $CASY $BRZE $LAKE $PLAY $GNSS $AOUT
W - $CHWY $PLAB $UEC $JILL $REVG $MOMO $VBNK $DAKT $ORCL $ADBE $SNPS $PL $ASYS $ELVA $OXM $NDSN $XZO $SKIL
T - $CIEN $MANU $LOVE $VRA $AVGO $LULU $COST $RH $NTSK $NX $MITK $KMTS
F - $JOUT
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Econ-data/events
M - -
T - NFIB optimism, JOLTS
W - US T-budget.
*FOMC, 2pm announcement. Press conf' 2.30pm. A rate cut of -25bps to 3.50-3.75% can be expected.
T - Weekly jobs
F - -
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Final note
It was a second consecutive bullish week for the collective of US equities. The fact the NYSE comp' broke a new historic high, was another reminder of the mid/long term trend.
This week's Fed is clearly going to see a rate cut, with QT having been formally concluded. You can begin to wonder... if... or rather when will the printers be spun up?
Once the Fed is out of the way, the bulls have a clear path into early January. The only concern is a wild card event, but then... that is always the case.
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Have
a good weekend
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*the next post on this page will likely appear 4.20pm EST on
Monday
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There should be at least a few names in there of interest.
