It’s a marathon and a sprint!
All the major indices raced into the plus column ahead of the closing bell on Friday with the S&P, NASDAQ, Russell and Dow Transportation indexes establishing fresh record highs.
Where we go from here?
First, I don’t think the market needs a tax deal this year to keep moving because the underlying economy is already moving and picking up steam. So, I would take that excuse, along with waiting for the crash, and toss them out. We are talking long term results, and this is just the start.
Right now, I’m modelling for the Dow Jones Industrial Average to rally to 23,600 before the next major test. That means we could have pullbacks, although I think they would be less than 5%. At the rate revenue and earnings are improving, my number is conservative.
Longer term, I think we are looking north of 25,000.
The main point now is that there is a sense of urgency rather than guessing if this is a top. Focus on the foundation of the rally and its good old fashioned stronger economic growth.
I continue to preach this is a marathon, and it’s nowhere near the finish line in my mind, so procrastination could be costly.
Road Map 2H17
On that note, I’m sure investors want to know where the action is now…how can they get in and sprint to the bank. As it turns out, over the past month, the hottest sectors are also the best proxies for the economic prospects of America’s heartland.
Your portfolio should have exposure to these industries.
• Aerospace (+28%)
• Machinery (+22%)
• Road and Rail (+21%)
• Container and Packaging
• Integrated Oil
Ask about the early version of our October 2017 Monthly Newsletter, which features update on the Manufacturing Renaissance.
Yes, We Can!
The market seems so insignificant this morning in light of developments in Las Vegas. However, major indices are looking higher at the start of trading.
Prayers to the victims of Las Vegas Shooting.
For those in the area that would like to help, there are several places to donate blood.
|I am new and like but do not use social networks.|
John McCarty on 10/2/2017 11:52:27 AM
Products & Services |
In The Media |
About Us |
All Rights Reserved.