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Matt's Market Insights

 

Last week was marked by geopolitical instability, but to the disbelief of many, the averages closed out the week in the green. Amidst all the chaos, how could the Dow, Transports and S&P 500 all move higher? The answer has to do with corporate earnings.

 

Before we get into that, let's take a quick look at where the averages sit. We'll use weekly charts to focus on the longer-term trend.

 

Below, the Dow and Transports are rising in sync. There are no mystical chart patterns here that need to be interpreted, a quick glance will tell you everything you need to know: The primary trend is bullish, and the averages are confirming.

 

 

 

Below, the S&P 500 continues its ascent and is holding steadily above its rising trendline. Again, no fancy chart work necessary. For good measure, I've included a chart of the NASDAQ as well. After breaking out to a new high in June, ... Log in or subscribe to continue reading.


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