Stocks opened lower again on Wednesday but it didn't take long for that to turnaround, and more comments from President Trump about his new tax plan sent stock flying into the afternoon with solid gains and new highs across the board.
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The rally over the last week plus has been steady and unrelenting. The simplified tax plan and lowering of taxes for individuals and corporations has been just too tough for investors to ignore. Patience has not been the name of the game in this market as the fear of missing out seems to be in high gear.------------------------------------------------------------------------------------------------------------------------------------------------
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[TD] Petition to Increase # of Interfund Transfers!
One of our members has created a petition to request an increase in the # of IFTs we can use per month.
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I have to make this quick today but I think we all see what's going on here.
The SPY (S&P 500 / C-fund) is off and running gain and it just hit another resistance line, this one a longer-term resistance, but that has done little to derail this rally this year.
The EFA (I-fund) made a new 2017 high as well although it too is up against some resistance, if that even matters anymore.
The dollar was up solidly early yesterday but pulled back as the day went on creating a negative reversal day, but it remained within its recent rising trading channel.
The AGG (bonds / F-fund) was down again and this time it fell through support.
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Thanks for reading. We'll see you back here tomorrow.
Tom Crowley
Posted daily at www.tsptalk.com/comments.php
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