Wall Street is on a tear and major US indices have now climbed to multi-year highs. At present, the NASDAQ Composite is still below its 52-week high, but this is largely due to Apple which is now weighing down on the technology-heavy index.
Wall Street remains in a confirmed uptrend and the S&P500 Index has now climbed to a level not seen since 2007. I continue to believe that major US indices will soon trade at all-time highs.
Global stocks remain in an uptrend and it appears as though this rally has further to run. It is notable that after a brief pause, Wall Street has resumed its north-bound journey and on Thursday, the S&P500 Index closed at a 52-week high.
United States policymakers have avoided the dreaded fiscal cliff. This development sparked a big advance on Wall Street. The majority of the world's stock markets also participated in the festivities and it appears as though the uptrend has further to run.
The Federal Reserve on Wednesday increased its QE-ternity program and indicated that it will keep interest rates unchanged until the US unemployment rate falls to 6.5 percent or the annual inflation rate climbs to 2.5 percent, claiming that these yardsticks will make its operations even more transparent and give consumers and businesses ample time to prepare for rising interest rates.
The stock market remains in an uptrend and a resolution of the fiscal cliff may trigger an impressive advance into spring.
My trend following system gave us a ‘buy’ signal a week ago. Since then, the market action has been choppy, but the major US indices are showing signs of strength.
Wall Street is in a correction mode and the direction remains down.
The world’s stock markets are in correction mode and this is not the time to be invested in common stocks.
Wall Street is still in correction mode and despite Thursday’s pop, the direction for stocks remains down.