Week-In-Review: Stocks End Mostly Higher As Tax Cut Passes House
What Is This “Dip” You Speak Of
The market remains very strong. The fact that the latest pullback literally only lasted one week speaks volumes to how strong the bulls are right now. The big news last week came after the House passed the tax cut bill. Now, the bill goes to the Senate where it will face some opposition but, in my opinion, most likely get passed in some form. The fact that the bulls showed up (again) last week illustrates how strong the market is right now. Remember, in bull markets, weakness should be bought, not sold.
Mon-Wed Action:
Thur & Fri Action:
On Thursday, the Dow jumped nearly 200 points after the House passed the tax reform bill and Cisco and Wal-Mart reported stronger-than-expected earnings. In fact, Wal-Mart gapped up and hit a fresh all-time high after reporting earnings which bodes well for retail stocks and the Q4 holiday shopping season. After the close, Tesla (TSLA), unveiled its new electric truck and surprised the Street when it reported a new very fast roadster. On Friday, stocks were relatively quiet as investors digested a busy week.
Market Outlook: Bulls Are Strong
The bulls are back in control and the market remains very strong. As always, keep your losses small and never argue with the tape. Get Our Free e-Book: Learn How To Buy Leading Stocks…EARLY. Get It Here…
