Where the SPX strength is coming from
More US market thoughts on the back of this early piece:
Equities market thoughts:
- Plenty of trade war and Fed related doom and gloom, but earnings are killing it.
- Of the almost 400 names that make up the S&P 500, that have reported earnings this season, about 85% of them beat analysts' estimates - How about that for a stat!
- The S&P 500 rallied as Apple's market cap reached $1 trillion. Yes TRILLION.
- This is why there is so much strength in the SPX
Chart musings:
- We've done this before, but it's all about that all time high resistance zone.
- Just don't underestimate the strength of this market.