19K, 20K, 21K, 22K… Aug 2, 2017 The thousand point thresholds are dropping like flies these days. With the caveat that a thousand points becomes an increasingly small percentage of the overall index as prices rise, the DJIA just crossed its fourth 1,000 point threshold since Trump’s election last November. The table below shows the date that the DJIA has first crossed each 1,000 point threshold on a closing basis since it first closed above 1,000 back on 11/14/72. For each threshold, we show the date the DJIA first closed above that threshold, how many days transpired between that cross and the prior 1,000 point threshold, the percentage that each thousand point threshold represents of the index’s price, and then how many upside and downside crosses the DJIA has had with each level. Since the election, the DJIA has now crossed four thousand point thresholds, and with each one, there has been very little in the way of looking back. For instance, once the DJIA crossed 19,000 it never closed back below that level. For 20,000, once it crossed that level, it only closed below it again once, while 21,000 only saw two subsequent closes. In looking for comparable periods, the current period is somewhat similar to the late 1990s, when the DJIA also crossed several 1,000 point thresholds in very short order. In the current period, these levels have been coming and going a lot faster, but again, it’s also important to remember that they represent a much smaller percentage of the overall index’s value than the levels that were crossed in the 1990s. Finally, while it may seem as though the move from 21K to 22K was quick, at 154 calendar days (if that level holds between now and the closing bell), it was nearly five times longer than the time that elapsed between 20K and 21K (35 days) and two and a half times longer than the time it took to go from 19K to 20K.
it is kind of ominous to me how techs continue to lag, but somehow the markets are hanging in there ... every time i think we might be on the cusp of something of a meaningful pullback the market does an about face ... maybe this friday's employment report might be the catalyst ... although then again aren't we in this good news = good; bad news = good for the markets because of the fed right? if it's a weak # that just means rates will be put on hold for even longer ... the resiliency of this market continues to astonish me ... we have now gone well past a year w/o a -5% dip off the highs ... that is pretty unprecedented ... at least nothing that i can remember in my time following these markets ... nothing lasts forever and this too will eventually give ... but when? i'm really curious to see if we do last the entire year w/o any meaningful pullback ... that'd be the first time that's happened since during the height of the raging 90s bull i think
Crazy time to enter the market For me, being my first year, all i know is UP I think a pull back is any day we don't print a new ATH
TTWO and DATA showing strong growth after ER today. Did my pick on TTWO simply because I work with tableau every day and hate its many flaws. Haven't seen SWIR er but it doesn't sound good. :/
I'm considering selling some /nq calls way out, maybe around 2150. Seems like a simple thing to do and you get about 50% as far as buying power is concerned. IE: You collect a credit of 250 and use about 500 in buying power (just an estimate). Seems like Nasdaq has gone up quite a bit lately and is due for a pullback.
every time someone says this so far this year, it has been a buying opportunity, the real question will be when will this buy the dip of tech stop working? but for now, just buy the dips.
whelp, the divergent type action continues once again this morning ... this is almost a repeat of yesterday (and really this whole week in general) ... dj30 makes another new high but the other majors are flat to lower ... interesting ... wonder how this will play itself out ... do the other majors follow the dow's lead or does that eventually give in and catch up to the other majors lower and we finally get the market pullback? tomorrow we get the jobs # ... probably will be very choppy today ahead of that #
Small caps have really underperformed against big caps lately too I think wage growth is a little more important than the headline number tomorrow unless we get some crazy numbers like well over 300K or well under 100K I think some modest wage growth that wouldn't allow the FED to be aggressive on rate hike would be the best for the market but I guess we will see
Dow turns negative on report Mueller's Russia probe is intensifying The Dow Jones industrial average held around 22,000 just one day after breaking above the mark. Wall Street also set its sights on key employment data with the Labor Department scheduled to release the July jobs report on Friday. https://www.cnbc.com/amp/2017/08/03/us-stocks-dow-22000-earnings.html
FIT and GPRO both jumped after earnings, I guess sometimes it works into your favor when you have low expectations
yea earnings season has been crazy so far, its all about expectations and run ups before earnings. some stocks like amd and micron had great earning reports but they both ended up flopping.
US created 209,000 jobs in July, vs 183,000 jobs expected The U.S. economy added 209,000 jobs in July and the unemployment rate dipped to 4.3 percent, according to a government report Friday. The report comes with the economy at a crossroads as President Trump has promised 3 percent economic growth. https://www.cnbc.com/2017/08/04/us-nonfarm-payrolls-july-2017.html
happy friday guys! running really late this morning so no stock movers thread... what's on everyone's radar this morning? have a great trading day!
Is the pullback finally here? Led by tech, industrials drag behind. But since they are reliant on tech, will follow. Thoughts?
Thought this was worth pointing out XAR, the aerospace/defense sector ETF looks to be outperforming the broad market over the past 9 months..... Even beating financials and tech Did someone say Trump stock?... Defense is up Bigly!
I am long on $SLCA fracking sand supplier, recent results looked good a beat but they bombed, I just held on, though hell no I am not going to sell, oil supply turning round, increased sand per well increased wells. Stock has been falling for 6 months. Nice tight stock 99.5% institutions 0.5% insiders about 4 days to cover. Riding a nice short squeeze. So in to double digit gains today. Otherwise I hold Galaxy Resources on the ASX everyone has just woken up to the fact that there really is going to be a short supply of lithium and they are up 8.5% so this is what we call a red letter day, drinks on me.... lol
BREAKING: Wells Fargo shares drop as it says legal costs could exceed reserves, probe could find more fake accounts https://mobile.twitter.com/CNBC/status/893537883172294656