The Brian Blog
Stocks and The Great 2280
Today was a flat out gorgeous day for those living in the Midwest, at least in Oklahoma anyway.
The only complaint was the 40 mile an hour winds and a few fires that left some people without homes tonight; thoughts, prayers, positive vibes to them.
(Photo source: http://kfor.com/2017/01/24/crews-respond-after-grass-fire-spreads-to-structures-in-logan-county/)
Today was a flat out gorgeous day for those living in the Midwest, at least in Oklahoma anyway.
The only complaint was the 40 mile an hour winds and a few fires that left some people without homes tonight; thoughts, prayers, positive vibes to them.
(Photo source: http://kfor.com/2017/01/24/crews-respond-after-grass-fire-spreads-to-structures-in-logan-county/)
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With that said, the wind took to the sails of the major US indexes today, driving the S&P back to the top of its channel.
It looks like we'll be looking for either a bounce or a break very soon.
The charts and indicators certainly look promising for a breakthrough to the upside; we even saw a temporary move above the 2280 line today. Sadly, it didn't close above it.
There are certainly some catalysts out there, but I haven't seen a lot of analysts and pundits pushing them so far.
What am I doing? With the S&P 20 points from the 2300 line, and the Dow 80 points from 22,000, I'll wait to see which way the political winds blow before making any moves.
Remember, typical Republican Presidency's tend to run a lower market... With that said, President Trump is far from typical. With a strong focus on manufacturing and better paying jobs, I am inclined to think the markets would keep growing.
The charts and indicators certainly look promising for a breakthrough to the upside; we even saw a temporary move above the 2280 line today. Sadly, it didn't close above it.
There are certainly some catalysts out there, but I haven't seen a lot of analysts and pundits pushing them so far.
What am I doing? With the S&P 20 points from the 2300 line, and the Dow 80 points from 22,000, I'll wait to see which way the political winds blow before making any moves.
Remember, typical Republican Presidency's tend to run a lower market... With that said, President Trump is far from typical. With a strong focus on manufacturing and better paying jobs, I am inclined to think the markets would keep growing.
Only time will tell. Stay positive 👍
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