01 December 2016

SP 500 and NDX Futures Daily Charts - A Tale of Two Economies

The Dow Jones 'Industrials' were heading to new all time highs, even as the techs continued to lead the declines to the downside, with the SP 500 going along for the ride.

The Dow is being supported by financials, since its days as an industrial indicator in any kind of Dow Theory are long over. As I have remarked before, the DJIA is the index for tourists, and local news programs.

The economic news was mixed, with unemployment higher than expected but some other industry indicators doing better.

This is going to keep becoming a tale of two economies.

Have a pleasant evening.