Friday, July 14, 2017

SATURDAY 7/15/17

SPX 2459 (record high). INDU 21638 (record high). COMPQ 6312. RUT 1429 (record high). NYA 11897 (record high). TRAN 9743 (record high). NIKK 20119. SPASX200 5765. KOSPI 2415 (record high). SSEC 3222. HSI 26389. BSE 32021 (at record high). DAX 12632. CAC 5235. FTSE 7378. MIB 21492. IBEX 10655. PSI 5303.

The Fox business cable news commentators remain bullish on stocks telling investors to buy TOL which will rally +20% over the next year. The pundits say AAPL and BAC will each rally over +15% during the next year. Interestingly, the AAPL monthly chart indicators are negatively diverging against price hinting that a multi-year top is likely occurring for Apple over the coming weeks.

President Trump refers to the investigations into potential Russia involvement with the Trump campaign during last year’s election as the “Russian hoax story.” The president had better watch his words since the investigations are revealing meetings and other information not previously disclosed by Trump’s campaign and cabinet staff as is required on government forms.

There is no evidence of any collusion between the Trump campaign and Russia but the lack of trustworthiness from Donald Trump, Jr, is muddying the political waters. Trump, Jr, keeps changing his story in relation to a meeting he took with Russia representatives.

President Trump, in his true braggadocio style, proclaims via Twitter, “Stock Market at new all-time high! Working on new trade deals that will be great for US and its workers!” The orange-headed president says, “The stock market hit another all-time high yesterday despite the Russian hoax story. Also, job numbers are starting to look very good!”

The president is relaxing in New Jersey this weekend watching the US Women’s Open golf tournament. Trump proclaims, “People are really happy with record high stock market up over +17% since election!” In the future, the president will likely regret taking credit for the stock market.

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