Via comment by Weaver on
Trump Secures Biggest Ally Yet In Mission To Close...
Review
Let’s start with where we left off
last week for some context.
“The post ‘Trexit’ rally that started on Wednesday took out the first two levels of resistance with some ease. However, the “sell signal” remains intact with the market now back to extreme overbought levels as shown by the red circles at the top of the chart.
The good news is the market is holding above the downtrend resistance line currently which puts all-time highs as the next logical point of attack if this bull market is to continue.
However, is we step back to a longer-term (weekly) picture we get a little clear picture about the overall directional trend of the market.”
Thanks for posting bearish news. It's always wise to be cautious. Now for a bullish post to drive you mad :p
ReplyDeletehttp://www.businessinsider.com/goldman-forecasts-record-rate-of-buybacks-in-2017-buybacks-forecast-2016-11
Quote: "Goldman Sachs ... estimate that S&P 500 buyback spending will total $780 billion next year. That would be more than their estimate for $602 billion in 2016, which is on track to be a record."
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Trump is expected to entice foreign earnings to be returned to the US, which could then fund buybacks and dividends.
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Similarly, I'm bearish on FB because of the recent accusation of bias against conservatives. However, FB is planning a massive buyback next year, which can drive up the stock price no matter what.
So, it's difficult to know what to expect :)
:) Absolutely and thanks.
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