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In a Continuation Pattern January 28, 2018

Posted by Tom in Thoughts.
Tags: , , ,

Jan. 26, 2018 – This will be short because not a whole lot has changed.  The international markets continue to be in an economic recovery mode and the US markets continue to be quite pleased with the tax cuts (about 1/3 off corporate and nearly half off repatriated cash).  With all of that financial tail wind behind them nearly all worldwide stock markets are headed higher.

The chart above shows all bullish signs.  I’ve moved the first level of price support up to 7332 and the next (lower) level to 7111.  A pause or a minor pull back would be normal here, but that would likely draw in more “buying of the dips”.

I do like international stocks in here.  Latin America, Emerging Markets and China are strong.  Consumer Services, Internet and Biotech US sectors are also doing well.  The NASDAQ 100 Index appears to be the strongest followed by the Dow Jones Industrials.  The only “wild card” out there is the Trump Russia Investigation.  I think there are many who will jump ship to lock in these profits IF they perceive bad news on the horizon.  Until then, we ride the wave.

Have a good week.  ……… Tom ……..

Price chart by MetaStock. Used with permission.


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