Thursday, March 2, 2017

SPX S&P 500 2-Minute Chart; SPX Prints Above 2400 First Time in History

Yesterday, on 3/1/17, the first day of March, the S&P 500 prints above 2400 to 2400.98 the all-time highest level in history. The closing high occurs at 2395.96. President Trump delivers a well-received speech on Tuesday night with plenty of goodies promised such as huge $1 trillion in infrastructure spending, drastically lower taxes and reduced regulations. At the same time, the Fed heads have set markets up to receive a rate hike in 13 days on 3/15/17. Investors believe that the Fed is showing confidence that the economy is recovering and strong since rate hikes are on the come which feeds into more enthusiasm and upside in stocks. The bears are running for their lives and the short-covering creates more upside fuel. The central bankers, and now the president, are the market. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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