US stock market shows persistent strength
November 19, 2016
US stock market after almost 2 weeks have passed from the Presidential Election
Almost 2 weeks after the US presidential election is officially over and there is a new US president, US stock market continues to show a persistent strength.
On Friday 18th November 2016 the major indices closed as follows :
S&P 500 2.181,90,-5,22,(-0,24%)
Dow 30 18.867,93,-35,89,(-0,19%)
Source : Yahoo Finance
With all 3 major indices having made higher prices it is interesting to watch for either a correction or a continuation of this current trend.All indices are in overbought levels using technical analysis indicators,so caution is necessary.As long as the uptrend continues buying dips on stocks seems safer than selling short stocks, but valuation is a concern as many stocks have risen in value so fast after the US election.