U.S. indices sit at all time highs – but where now?

Bull market

The DOW at a jackpot high!

The DOW, S&P 500 and Nasdaq have recently touched all time highs but where now for the U.S. stock market? Is it time for a breather?

More upside?

Many analysts suggest there is still room for more gains, especially for the S&P 500 – but I’m not so sure. I feel a 100% gain for the S&P 500 since the March 2020 pandemic drop may indicate it is vey close to a top in this cycle. Job creation, economic data, good company results and massive Fed fiscal intervention and powerful government stimulus all suggest more gains to come but the growth of the delta variant and slow U.S. work uptake may suggest otherwise. We also now have the balance of power change in Afghanistan.

U.S. stock market highs

S&P 500 reached a high of : 4480, the DOW stretched above: 35600 and the Nasdaq enjoyed a high of around: 15100

Current news likely to affect market movement today

Let’s check the headline news out this morning…

Tech stocks
Property

Conclusion

By far the main leading story today is of the developing situation in Afghanistan and how this will affect the global political structure and the money markets, now and in the future.

Stock markets moved south on Monday 17th August 2021 but climbed again later and in out of hours trading to reduce initial losses.

Watch today

FOMC minutes due at: 19:00 BST

My positions

I’ve got small ‘tester’ shorts on the DOW, S&P 500, Nasdaq and FTSE 100.

Let’s see where Tuesday’s trading finishes. There is a downward pressure in these indices after some big gains in recent weeks.

I’ll update again on Wednesday…

Bye for now.

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