A Strong Friday Wall Street Open
It has been a tight week for U.S. stocks on Wall Street, featuring consolidation in the three major indices.
The U.S. indices have opened in the green and are attempting to close the week on a high note. For the first 90 minutes of trade, the DJIA (+165), S&P 500 SPX (+15), and NASDAQ (+55) are all in positive territory. Bullish sentiment is growing as the second round of U.S./China trade negotiations is being deemed a success.
Next Thursday marks the release of Q4 2018 U.S. GDP. The markets are eagerly anticipating this number, as the impact of lagging holiday retail performance will come into view. Without a doubt, the next four sessions are going to be big ones for U.S. equities.
Wall Street Is Alive And Kicking
It has been a tight week for U.S. stocks, featuring consolidation in the indices. Daily ranges in the March E-mini DOW have been modest. However, today’s action has price knocking on the door of December’s highs.
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Overview: The early 2019 bullish trend is alive and well for March E-mini DOW futures. Prices have yet to challenge downside support in a meaningful way. At the moment, it appears that U.S. stocks are preparing to make a springtime run at all-time highs.
In the event that the March E-mini DOW breaks above December’s high, significant extension north is probable. This market is compressed ― if a bullish breakout is to occur, then it will begin above December’s High (26110). Buying in slightly above this level is not a bad way to get in on the initial flood of bids hitting the market.
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