SOME KINDS OF REST AFTER THE RALLY

US indices and stocks ended a choppy session yesterday, all indices were quite flat finally and nearly unchanged. They tried to struggle to stay close to their record levels. The markets were breaking the five-session streak of records.

• DJIA – 0,02%
• S&P 500 -0,07%
• Nasdaq +0,31%

All in all, the market was really slow Wednesday, without any major economic report, the indices moved without any direction. The investors needed to pause a bit after a one-month V-shape great rally. The S&P 500 gained within four weeks more than 9,4% and fully recovered after the sharp drop in September and October. The S&P 500 closed at 40 new records and the DJIA is strong either and hit its 24 closing records this year so far. Don’t forget only bull markets make new record and highs, it sounds simple, but most of the investors tend to forget that rule.

In the technical side the Dow Jones is just simply staying in record territory, back-tested the 17,300 key resistance level last Tuesday and recently stays firmly above that level.

The BFM Assets Team.