Monday, November 13th, 2017

Stock Market uptrend

 

The market continued with its momentum but falling short of getting the 50 day moving average. Fiscal cliff comments again jolted the stocks but the market shrugged it off. The GDP numbers came pretty decent a 2.7 percent growth and the unemployment claims at 393,000 that gave a initial boost to the SPX and it moved higher at the open. John Boehner  speaker of the house appeared on TV around 9:00 and the market jolted a bit, but recovered quickly as he made some benign comments.

 

Names like AAPL, GOOG, PCLN and others gained during the session. AAPL is next to its 200 day at 599 and the psychological number 600. It may attempt that in next days hopefully. SPX is also near its 50 day line and that too remains a challenge the market has to overcome in due time.

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