|U.S. Major Indices: Percentages Gained Since 2016 Presidential Election|
The next graph shows percentages gained since January 1st of this year.
|U.S. Major Indices: Percentages Gained Since January 1, 2017|
Undoubtedly, market participants have faith in President Trump's ambitious reform and stimulus agenda, which was emphasized by today's market reaction to what he delivered in his first Joint Address to Congress last night. I'd dub him as a high-energy hunter-gatherer who settles for nothing less than winning...so, I'd watch market action going forward to gauge how well he's accomplishing his goals.
In that regard, I'd like to see these indices, generally, remain above their 50-day moving averages as confirmation (as outlined in my post of February 11th). Otherwise, a drop and hold below could signal a reversal of bullish market sentiment and endorsement of his unfolding agenda.
|U.S. Indices 1-Yr. Daily|