Tuesday sees a mild increase in Dow futures.
Monday saw another leading day by Dow Jones. The S&P index saw a strong rally along with Nasdaq composite.
Friday was filled with positive news. Post-job reports in the US were good, while tariff impacts in China were mild. But breakouts were not many.
Some shares from the Dow Jones were on a winning streak. Goldman Sachs, JPMorgan Chase, and Caterpillar were on the upside. IPO’s from China that saw gains were IQiyi (IQ) and Huya (HUYA).
A few stocks were showing buy signals. The EOG Resources (EOG) and Marathon Oil (MRO) were energy stocks, close to breakouts. Other stocks were Dollar General (DG), Michael Kors (MK) and Home Depot (HD), which saw a rise on Monday.
Stephen Parker from Thematic Equity sees a good bull market that is based on fundamental growth and good earnings. However, investors are yet to get over their bearishness. Parker Ads, that the global growth is good and ready, for a bull market.
The S&P 500 has seen a 4 percent rise on good euphoria. Parker also sees growth in health care and technology, which he recommends s to investors as a good buy, while financials and energy show cyclical values.
Currently, the Nasdaq composite is almost near its record high of last month. On Monday it closed just 0.6% away from its highs of June 20th. The S&P index is also moving towards its four-month high and is 0.6% away from 2800. The Dow Jones is on its 50 DMA on Monday.
Parker sees the market as a buy on sell-off, as he sees good potential in the market in the near term. He feels that investors are however showing signs of bearishness, though the market is showing signs of multiple growth and expansions.
JPMorgan feels that the market may not derail easily, though nothing is invincible he further adds.