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Tuesday, October 6th |
Good Morning The equity market started the week off on solid footing gaining more than 1.75% by the end of the session. The move was supported by a combination of factors including last week's economic data, a growing number of upgrades for the 3rd quarter earnings season, and President Trump's return to the White House. On a technical basis, the market action on Monday was very bullish. Not only did the S&P 500 move high for the day but it also confirmed support at the short-term moving average and set a new three-week going on one-month high. With price action moving up from the 30-day moving average the next target is the all-time high. If the 3rd quarter earnings reporting cycle is as good as it looks like it will be, the S&P 500 is sure to set a new all-time high very soon. |
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