So far this week, the US markets traded to all time high and a bit more cash is entering at this levels. (If you do not see chart – try with Internet Explorer).
Trump gave the steel business (and Basic Materials Sector) a boost by signing executive orders favoring a couple of pipeline projects and requiring that pipelines use US made steel. Trump’s focus on US jobs and manufacturing have been well received by the market and there could be more market boosting new in the days and weeks ahead.
The American Association of Individual Investors survey for the week ending 1/18/2017 show just 37.0% bullish sentiment and 32.7% bearishness. At 37.0% bullishness it is at the lowest level in 9 weeks and similar to the November pullback before the election. These numbers are more like what you would see during a market pullback and should be considered bullish for the near term.
