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Afternoon Note

EXCITED

By Charles Payne, CEO & Principal Analyst
5/10/2018 1:12 PM
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The reasons for investors to get excited is growing. 

Leadership has broadened out beyond technology stocks.  Equities are working on a five-day winning streak.  Major equity indices have regained their losses and are currently positive on the year.  Investors are reallocating their assets, safe-haven stocks such as utilities and department stores are being sold as investors take on more risk.  A sense of urgency is working its way into the markets as fund managers scatter to put money to work.   

Yesterday, the Dow Jones Industrial Average closed above its 50-day moving average, broke above the 24,500-resistance area and closed above the descending trendline in its consolidation pattern.  Volume has been decidedly positive, but on the light side.  Currently, advancing issues are outpacing decliners on the NYSE 2,160/741 and 1,766/931 on the Nasdaq.  New 52-week highs/lows are 100/23 on the NYSE and 139/24 on the Nasdaq.  All eleven sectors on the S&P500 are up.  Health Care, Real Estate, Technology and Telecom are leading the pack higher, while Consumer Discretionary and Industrials lag.


Comments
Thank you CHARLES, & FBN.. The only fact based news people, and place for NEWS. Please ask pres Trump to push for a "warning label " to be broadcast at & on, the other fake news agenda broadcasts, spreading group thinking, dumbing down American networks ie CNN NBC MSNBC ABC, they are depressing, and causing most of the stupidty & add to the DRUG EPIDEMIC.

Ed on 5/10/2018 2:10:23 PM
 

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