The positive sentiment on Wall Street might come to its end – and with that, the historical three-month bullish trend of Dow Jones Industrial Average dropped down to 17.900 after being only point away from the 20.000 mark.
Investors are under pressure, so to say, with aggressive bullish positions. The tension has never been higher. Every disappointment might bring negative consequences on the first week of Trump’s Office.
At first look, situation seems steady. Nasdaq grew over the past week until Wednesday, reaching to a new high. However, S&P 500, Dow and Russell 2000 are trading on very narrow limits over the last month.
On the other hand, the stock market continues to get worse. The futures of the gold are trying to breach the 1.200$ per ounce level and crossed the 50-day moving average for the first time since the first week of November.
On Wednesday, Nasdaq reached a new high, although, only 45 of its stocks reached the 52-week high.
The “Smart Money Confidence” index, by Sentiment Trader decreased with 20% for the first time since last summer, one of the few times, that the trust in this group has been that low.
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