Add another 1% to the Nasdaq...
The US stocks are sure making up for the declines last week.
The 3 days this week have yielded a gain of 3.58% for the Nasdaq and a 2.8% gain in the S&P. The Dow lags at only 1.2% but that is largely attributed to Boeing.
The Nasdaq is trading to a high of 7677 and in the processs is now above the October swing high at 7669.25
The S&P is trading to a high of 2821.24 and it is also above its October, November, February and early March swing highs at 2813-2817.
The bulls are running... and it is hard to stop a stampeding bull.
Doubleline Capital's Jeffrey Gundlach is trying, however. He said today that "The stock market was and still is in a bear market," and added that stocks could go negative again in 2019 (he has been bearish on stocks during this run up).
Of course he could easily be right, the end of the year is a long way off, but for now he is dodging the bulls.
Ole.
