The Closing Print live trading and financial blog during market hours.

NYSE Bullish Performance New Highs Persist

The New York Stock Exchange Composite continues to perform as anticipated, producing new highs exceeding those seen at the beginning of July. Thursday results were +273% (top right chart below) compared to Wednesday. The trend is turning higher, not lower.

GDP Results – Real-Time Stock Indices Futures

NYSE NYHL New Highs

NYSE NYHL FRI GDP

 

NYSE Performance – Price Action Bullish

The NYSE paused briefly for two weeks, then broke above trendline resistance going back to the late February and June pivot highs illustrated. This recent price action accompanies the upbeat earnings environment. Sales and earnings are largely robust with most companies reporting positive guidance going forward.

 

NYSE NYAD FRI

 

Considering this backdrop, we anticipate the index will be closer to all-time highs 13,710 by year-end.

Join us this morning at 9:20 AM

We’ll discuss recent earnings and potential trades for Friday and the week ahead. There is an abundance of news to digest.

Happy Trading and Happy Fry-Day!,

Vinny



NYSE New Highs: June Results

Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.