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8 Records in a Row!

The Dow Jones industrial average closed Friday at its 8th record setting level in a row after a very strong jobs report. It hit a record high and closed 66.71 points at 22,092.81. Goldman Sachs (GS) contributed the most gains. Earnings have been very good and that has contributed to the market gains as well. The dips we watch for have become increasing fewer but they will occur. Since 1950 August has been the worst month for the Dow, according to the Stock Trader’s Almanac edited by Jeffrey A. Hirsch. And, in a note written along with Christopher Mistal, Augusts in years after presidential elections have been especially treacherous. The VIX remains at historically low levels. The geopolitical climate has really not cooled but the markets reaction to news, especially that of North Korea, seems to have subsided. While the Dow hits records the S&P seemed to lose steam. We are still up over 600% for the year and hope to add to that and get close to, if not surpass, 1,000% for the year. Thank you to all our subscribers!

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