In u. S. Stocks. All three major averages touching closing records. The nasdaq the only other three to also trade at an intraday record as we see strength on this day when we have a smattering of earnings reports to keep an eye on. That is one of the things helping boost the stock market. Also in the case of the stock market, technology is outperforming. Word aboutsay a volume. One of our chart masters cooked up this chart. Here is the average volume if you go back over the duration of the bull market. Here is this year in white. And the low of the bull market is here in red. 2017, volume has been running well above average. It started to arise a little bit, but again, still below the average line. Something to keep in mind as we enter this latest stage of the bull market. Back to earnings, i mentioned a smattering of them today. Tocks are rising, helping support overall gains in the s p 500. The packaged meat make a harm ormel, theiret h averages up 2. 5 . Medtronic coming out with ea
Consequences. Through 15,000, gaining 60 in the past five trading sessions. We hear from howard davies, who called the whole bitcoin surge in rational exuberance. That . Er we are about 30 minutes into the trading day. That is one reason bitcoin is so appealing. We see the slow and steady gains on equity markets and other traditional assets. The bitcoin rise is something different. We are seeing gains on the stock market. Industrials, energy, and materials. Industrials, energy, and materials have been leading those gains as we have sessions little changed in the past several days. Overall, not necessarily that large. They are larger and larger, potentially. Take a look at the correlations here. Back several years. You can see the loosening correlations. Less frequently in lockstep, which may lockstep, which may open up more opportunities for folks who called himself call themselves stock pickers, individual companies that will give them outperformance. We will keep tracking these are t
For the majors. We have the s p 500 and the nasdaq ever so slightly higher and putting in new alltime highs and the dow down very slightly. Of ate the third day Government Shutdown, investors not seeming to care. Yet another round of record highs for both the s p 500 and the nasdaq. David over at mainstay capital says that they are desensitized to drama in d. C. , but the conditions for markets are over. That may suggest a 5 to 10 pullback is ahead. If we happened to the bloomberg and take a look at g btv to a 83, the last shutdown was in 2013. At that time, the s p 500 did drop about 5 . The rsi or momentum indicator had been overbought. At this time, we have the s p 500 5 above its 50 day moving average, suggesting conditions are overbought. Take a look at the rsi above 80. Katie stockton, the head of technical analysis, saying sentiment is overbought. She sees a 5 pullback is left. It will be interesting to see what triggers this. A lot of agreement that conditions are overbought. V