The Single Trump Chart

Key bit:    According to Gallup after one year of Trump in the White House not only the Economy dropped to sixth (Jobs is 7th) but according to them you have to go back to 1999 to find a time when less people mentioned the economy as the country’s #1 problem.

And this is BEFORE the full effect of the Trump tax cuts that not a single democrat in either house voted for takes effect.

There are some people who think the GOP in general and Trump in particular are in trouble come November 2018.

After looking at those numbers I don’t.

gallup-top-issue

Read the whole thing:  http://datechguyblog.com/2018/01/21/trump-year-1-in-a-single-chart/

 

Record Breaker, Again

From the desk of Ryan Detrick: 

Today was the 395th day in a row the S&P 500 has closed within 5% of the all-time high.

This will break the all-time record of 394 days set in the mid-’90s.

The steak in the ’90s saw the SPX gain 41.4%, while this streak has gained 40.5% so far.

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Steady.  Higher.  Relentless.

Hat tip Charlie Bilello

Allergan Rising, Is More Upside Ahead?

agn

Allergan is surging today.  The generic drug maker is a top ten gainer in the S&P 500 with the help of a 3.5% surge.  Pfizer takeover talk is certainly adding fuel today but the stock has been steadily improving all month.   With today’s gain AGN is now up over 15% from the Jan. 2 lows and is set up well for more upside.  

At the early December lows AGN had fallen over 35% from its July 2017 peak.  Along the way the stock put in five straight lower monthly lows before finally reaching downside exhaustion near $160.00.  AGN developed a divergent low in the daily MACD indicator in early November and continued to do so through December.  This divergence was an early indicator that a rebound was on the way.  When January opened shares were back in rally mode leaving behind layers of support in the process.  Initial support is in place between the $182.00(last week’s high)and $175.00(December high).  Upside target is the September low($201.40).  We regard AGN as a buy on weakness.  At time of publication we have no positions in Allergan. 

Earnings are due before the opening bell on Feb. 6.

Crude Story

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Looks like a healthy pullback is needed.

KO

Screen Shot 2018-01-22 at 7.17.05 AM

BUFF Returns to Guam

b-52h-01-18-2018

From strategtypage.com:  A U.S. Air Force B-52H Stratofortress bomber taxis after landing at Andersen Air Force Base (AFB), Guam, Jan. 16, 2018. The Stratofortress is one of six U.S. Air Force B-52H Stratofortress bombers and approximately 300 Airmen from Barksdale AFB, Louisiana, deploying to Andersen AFB, in support of U.S. Pacific Command’s (PACOM) Continuous Bomber Presence (CBP) mission. (U.S. Air Force photo/Airman 1st Class Gerald R. Willis)

The Megaphone

100 Year View:

dow-jones-industrial-average-megaphone-pattern_stocks_news_november-24

 

Quite a bullish set up.  Hat tip Kimble Charting Solutions.

Racking Up The Miles

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Hat tip WSJ.com

Only in China

They Love ‘Em Higher

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Complacency/Bullishness is at extreme levels, but does it matter?  Not yet, but it will, eventually.  We continue to expect a volatile year ahead which will produce many an opportunity.  

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