Tuesday saw new highs once again for all 3 major indexes.
With the Dow now up for a seventh straight session, it is less than 90 points away from 20,000.
Back on March 6 2009 the Dow Jones fell to 6,469.95 at the low of the bear market during the credit crisis. Today it closed at 19,911.21 for a gain of 207%. When one considers how stunned investors were in March 2009 and the anxiety among analysts and investors alike, reaching 20,000 will be an incredible accomplishment which took just 7 years 9 months.
S&P Index Close
The S&P index ended the day higher by 14.76 points to close at 2,271.72.
Dow Jones Index
The Dow Jones ended the day with an advance of 114.78 points to close at 19,911.21.
NASDAQ Index Close
The NASDAQ ended the day at 5,463.83, a gain of 51.29 points or 0.95% for the best advance of all three major indexes.
Stock Market Outlook
There is no technical analysis this evening as the Fed announcement on Wednesday will more likely control market momentum.
Stock Market Outlook for Tomorrow – Dec 14 2016
The technical indicators are still biased to the upside. However it is highly anticipated that the Federal Reserve will raise interest rates on Wednesday by a quarter to a half percent. With the market moving higher, the morning may see the market dip slightly and then move back to the 2265 to 2270 level. Lunch hour or early mid-afternoon could see the S&P move above 2275 ahead of the Fed announcement.
Even if the announcement is initially negative on stocks, I am expecting a recovery and a positive close on Wedneday.
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