Tuesday, July 11, 2017

WEDNESDAY 7/12/17; Japan PPI (Producer Price Index); BOC Rate Decision; FAST; Federal Reserve Chair Yellen Testifies Before House Financial Services Committee; US 10-Year Note Auction; Beige Book; INDU (Dow Industrials; DJI) and TRAN (Dow Transports; DJT) Print All-Time Highs; Dow Theory Confirmation Continues

S&P +1. Dow +11. Nasdaq -1. WTIC oil is up +1.6% to 45.78 after the API Oil Inventories report a huge draw down a few hours ago. Brent oil 48.19. Natty 3.04. Gold 1218. Silver 15.82. Copper 2.676.

[Purchase the 2017-07 chronology to enjoy July's economic and market real-time history including new all-time record stock market highs and Dow 22K.]

AAPL, NFLX and GOOGL will likely top out first on the monthly basis, perhaps now through October, with FB and AMZN following behind. Even though Pachter has been dead wrong on his sell call for NFLX, he will likely be correct moving forward. The FAANG stocks and other tech heavyweights are likely printing major multi-year tops this year as per the technical analysis from the monthly charts.

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