Stock Indices Recap – 10/5/2017Posted 10/05/2017 3:37PM CT |
December S&P finished up 13.7 at 2549.9, 0.3 off the high and 15.2 up from the low. December S&P E-Mini closed up 13.5 at 2549.75. This was 15.25 up from the low and 1 off the high.
Once again the equity markets charged higher breaking records and extending the pattern of new highs to nosebleed levels. Favorable earnings news from Constellation Brands and gains in Boeing third quarter plane deliveries and ongoing leadership from technology issues like Netflix, Microsoft and Amazon means the market is getting a full contingent of bullish information and headline flow. At this point, the acknowledgment of an excessively overbought technical condition seems to be discounted completely.