(TNS) It has now become ludicrous for Democrats and their Left-wing media sycophants to argue 1) that the current economy revival has anything to do with Barack Obama; and 2) that the current economic revival is not due to President Donald Trump’s pro-growth policies.
On Monday, stocks hit new highs on Wall Street thanks to a surge of great economic news which stemmed primarily from two developments tied directly to Trump policies: A “Phase One” trade deal with China, avoiding new tariffs for now; and a deal on approval for the USMCA, the U.S.-Mexico-Canada trade agreement that replaces the horrible NAFTA.
And CNBC reported there are more “bullish gains” to come:
More individual stocks are hitting new highs, and that often bodes well for further market gains.
According to Sentiment Trader, just about a year ago about 40% of stocks listed on the NYSE and Nasdaq hit new 52-week lows. Last week, as key market indices continued to hit new highs, a net 7% of NYSE and Nasdaq stocks made new 52-week highs, the most in six months.
CNBC data shows that for every stock hitting a new low on the Nasdaq Monday there were nine setting new highs.
“That’s very bullish,” Ari Wald, Oppenheimer technical analyst, of the jump in new highs, told the network.
“Historically, that’s going to peak ahead of the actual S&P. If that’s making new highs, that’s the kind of broad-based internal breadth that signals a continuing trend …The time to get concerned is when the S&P is making new highs and that’s making less,” he added.
Boom. As in, economic boom.
“It’s a very bullish market we have on our hands. It’s getting to be year two of the bull market that started in [December] 2018,” Wald said, noting the second year on average has seen average gains of 11 percent.
“It’s really a market firing on all cylinders. It’s such a key point here. It’s not just this narrowly focused large cap, growth story. We have Europe pushing to 20-year highs. The Euro Stoxx 600 is pushing to its year 2000 peak,” he added.
Again, and for the record: This is is the Trump economy, not the “Obama” economy. Democrats, in fact, have had nothing to do with these historic gains until this week, when House Speaker Nancy Pelosi caved to her party’s sound-minded faction and agreed to approve the USMCA, which will add more wealth to our country and further pad the 401(k) retirement accounts of tens of millions of Americans.
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And yet, the Democrats want to impeach the president responsible for all of this. Let that sink in.
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