Market Recap for Tuesday, November 21, 2017
I am traveling for the Thanksgiving Day holiday, so today's article will be brief. I hope everyone has a very Happy Thanksgiving! Enjoy your family and friends and please be safe. :-)
It was a very bullish day on Wall Street yesterday. Not only did we see all four of our major indices climb to touch all-time highs on an intraday basis, but they also closed there. In addition, all nine sectors advanced on the session. That is typically a sign of new money driving prices higher, a bullish development indeed. Should the 10 year treasury yield ($TNX) move above its triangle resistance (see Current Outlook section), that would provide another catalyst to take U.S. equities higher.