More Inching Higher


Major U.S. stock indexes rose for the third session in a row Wednesday, as the S&P closed in on its record and the Dow finished above 18000.  The S&P  hasn’t breached its record close of 2130.82 in more than a year, the longest dry spell since 2013. Investors have remained cautious even as the market inches higher. The S&P 500 hasn’t posted a gain of 1% or more since May 24.  This is classic “climbing the wall of worry“.

Oil rose 1.7% to $51.23 a barrel and has risen 95% since Feb. 11, which marked a 2016 low for both oil and stocks.

The bulls have a little more work today, not much, for new highs.

I’m watching the bull flag on ICPT, more tomorrow.


Also NBIX on radar



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