Dow and S&P close at record levels.

Technical Analysis

Author: Greg Michalowski | sp

Dow up 9 straight days

The Fed started the balance sheet reduction (albeit at a slowww rate) and signaled their expectation for 1 more hike in 2017 and 3 in 2018, but the stocks did not flinch...much.  The S&P and the Dow closed at record levels. The Nasdaq did shed -5.28 points but recovered by 42 points from the lows.  A down day, feels like an up day.

There were some chinks in the high flyers today though. In particular Apple fell by -1.68%, Facebook, Nvidea and Microsoft were all down. 

In summary:
  • S&P closed up 1.59 points or 0.06%
  • Nasdaq closed down -5.28 points or -0.08%
  • Dow rose 41.79 points or +0.19%