Market Direction: BULLISH alert
issued 11/10/2016
The
Dow Jones Industrial Average on Wednesday closed above the psychologically
significant threshold of 20,000. Finishing at the level represents a milestone
for the blue-chip gauge and highlights a relatively speedy path higher for the
stock market in the wake of Donald Trump’s election win in November.
The
Dow DJIA, +0.78% is up about 9.5% since Trump’s Nov.
8 election victory, the S&P 500 index SPX, +0.80% has gained nearly 7%, while the
Nasdaq Composite Index COMP, +0.99% has advanced roughly 9% during that
period.
The
equity rally is supported by expectations that Trump will unleash a raft of
pro-business policies, including a rollback of regulations, tax cuts and fiscal
spending. The gains for the Dow on Wednesday came after Trump signed executive
orders on Tuesday to move forward with the construction of controversial infrastructure
projects, Keystone XL and the Dakota Access
pipelines, which offered a boost to stocks as it supported
expectations that a ramp up in infrastructure spending—a boon for economic
growth—would be one of the centerpieces of his administration.
The
Dow’s milestone on Wednesday, marks the second-fastest 1,000-point move in
history (42 days), since the 59-session span between late March and early July
2007 (see table below):
Trading sessions between 1000-point milestones
|
Dow’s 1000-point milestone
|
Date of first close above 1000-milestone
|
24
|
11,000
|
5/3/1999
|
42
|
20,000
|
01/25/2017
|
59
|
14,000
|
7/19/2007
|
85
|
7,000
|
2/13/1997
|
105
|
8,000
|
7/16/1997
|
108
|
18,000
|
12/4/2014
|
127
|
13,000
|
4/25/2007
|
139
|
16,000
|
11/21/2013
|
153
|
17,000
|
7/3/2014
|
182
|
9,000
|
4/6/1998
|
189
|
5,000
|
11/21/1995
|
226
|
6,000
|
10/14/1996
|
246
|
10,000
|
3/29/1999
|
483
|
19,000
|
11/22/2016
|
975
|
4,000
|
2/23/1995
|
1,080
|
3,000
|
4/17/1991
|
1,460
|
15,000
|
5/7/2013
|
1,879
|
12,000
|
10/19/2006
|
3,573
|
2,000
|
1/08/1987
|
21,652
|
1,000
|
11/14/1972
|
$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies and follow us at $tockMarketDirection for ALERTS we may issue advising a change in the current market direction. Stay tuned and follow us. If you have a testimonial or comment of how this website has helped you we would like to know, email us. Share with a friend.
The all-time highs since our initial
recommendation to go LONG
this market. Here is how the markets have performed:
Stock Market
Direction Recommendation (11/10/2016)
|
||
Dow
|
up 1,274.12 points a 6.77% gain
|
1/25/17
|
Nasdaq
|
up 449.79 points a 8.64% gain
|
1/25/17
|
S&P 500
|
up 132.07 points a 6.09% gain
|
1/25/17
|
Related Link: http://www.stockmarket-direction.com/
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