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US Stock Market Analysis Thursday May 25 2017

The US stock market has a breakthrough. The S&P 500 and Nasdaq 100 has broken to new highs. The Dow Jones Industrial Average has not broken out yet, but if things continue in an upward trajectory, it will be very soon that the Dow will break into new highs as well. What's next for your portfolio?

A rising stock market will mean the increase in value of most people's portfolio. As long as your stock is not in a bear market of its own, any uptrending stock will most likely to go higher.

The charts are best viewed using a laptop or desktop. Mobile view is just too small. But anyway here is a summary of today's analysis:

  • After the shock drop and recovery, the three indexes Dow, S&P 500 and Nasdaq 100 are in a healthy 60 min uptrend. No sign of weaknesses yet.
  • Therefore, focus should still be on longs for short term and longer term
  • S&P 500 futures and Nasdaq 100 has broken out into new highs and there are layers of support in the 60 min chart. So, not much worry at this moment of any big drop like last week
  • Oil is at a decision point, halting a bit because of overwhelming daily overbought indicators. Will be looking if 60  min support holds. As long as the 60 min uptrend is healthy and breaking above congestion areas will most likely cause the indicators to be ignored and oil will continue to rise to the area of old high $54.
  • Gold hitting some resistance but stubbornly refuse to fall. Forming a daily cup with handle and which way it breaks out of will be crucial
  • FTSE hitting new highs and because a rising stock market is good for the incumbent party, Theresa May will return to 10 Downing Street with a bigger majority
  • Nikkei is still in a nice short term uptrend. Currently chugging higher as it absorbs supply. As long as short term support holds, it will slowly chug higher.
  • Malayan Banking Berhad the biggest stock in Malaysia by market cap has broken out of a trading range courtesy of good results. Any more rise by banks will most likely send the KLCI higher into new highs.
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