Monday, August 27, 2018

Market update : The market busts out of 7-month long correction (27 August 2018)

Wall Street extended Friday's push into record territory on Monday, with the S&P 500 registering its second straight record close.  President Donald Trump said the U.S. has reached an agreement with Mexico to enter into a new trade deal, calling it the U.S.-Mexico trade pact.  With a U.S.-Mexico deal in place, Canada will now come to the negotiating table as the three nations look to fully replace their three-way NAFTA deal.
  • S&P 500 today's close: 2896;  Jan 26 close:   2872
  • Nasdaq Composite +16.1% YTD
  • Russell 2000 +12.6% YTD
  • S&P 500 +8.4% YTD
  • Dow Jones Industrial Average +5.4% YTD
$SPY since the 2016 Election (22 months) with Fibonacci retracement.

A table showing the performance of various asset classes since the prior S&P 500 high on 1/26.  We also show YTD and QTD performance.  As you see, US equities have been dramatically outperforming international stocks.

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