Back to top

View the PFP Archive

Profit from the Pros

Stocks Poised For More Gains

Stocks closed mixed but remain within striking distance of their all-time highs.

Traders continue to take the tariff issues with China in stride. And this is largely because analysts are not expecting the tariffs to have much of an impact on earnings or our GDP. And also because the back and forth with tariffs isn't the end game -- it's a tool each party is using as leverage to advance trade talks that will ultimately result in a fairer deal for all. That's the end game and it's full of positives.

Regarding our friends to the north, I can't believe it's been two weeks after the self-imposed deadline with Canada to reach a trade agreement has come and gone. This was supposed to piggyback onto the agreement we made with Mexico to forge a new NAFTA. Reps from both sides keep expressing their optimism that progress is being made. Hopefully we'll get an actual announcement that a deal has finally been agreed to soon. Until then, the market is hopeful, but waiting nonetheless.

In other news, MBA Mortgage Applications were up 1.6%, with the Purchase Index up 0.3%, and Refi's up 4.0%.

And Housing Starts rose to 1.282 million units (annualized) from last month's 1.168 mil. and views for 1.240 mil.

Another day, another set of reports underscoring the strength of the economy.

In fact, the economy looks fantastic and so does the market. And I'm expecting stock gains to accelerate in Q4 for a strong end-of-year finish.

By the way, if you're interested in gaining an edge on how to trade this historical market, consider adding a little bit of technical analysis into your decision making process.

I will be the first to tell you that technical analysis had me buying the correction lows in 2015/16 when others were selling; it kept me in the market during this year's correction with unwavering confidence that stocks would soon turn back up; it helped me take advantage of the small-cap breakout that has led the market; and it has been instrumental in some of my most profitable trades.

But first you need to know which technical analysis items work and which ones don't. So be sure you check out our latest commentary...

5 Big Myths of Technical Analysis

Kevin Matras

Executive Vice President, Zacks Investment Research

Sponsor

Is Amazon About to Shock Bitcoin Investors?

If you’ve invested or are planning to invest in Bitcoin or other cryptocurrencies…

You MUST click here and see what could be the biggest shock of 2018.

This could be your only chance to turn $100 into a retirement fortune.

In a matter of months... all thanks to Amazon.

Click here for details.


Most Popular Articles from Zacks.com

5 Stocks Near 52-Week High With Scope for Further Upside

Investors might miss out on top gainers by avoiding stocks that are trading near their 52-week high levels. Read More »

Q3 Earnings Season Gets Underway

Total earnings for the S&P 500 index are expected to be up +17.6% in Q3 from the same period last year on +7.3% higher revenues. Read More »

Forget Illinois Tool, Buy These 4 Industrial Stocks Instead

The country's industrial production is on the rise increasing 4.9% year over year in August. Read More »

3 "Internet of Things" Stocks to Buy Right Now

Semiconductor stocks have been struggling, but niche chipmakers focused on the IoT still have growth potential. Read More »

Biotech Stock Roundup

Pipeline updates and data read-outs at the 27th EADV Congress are some of the key developments in the biotech sector this week. Read More »

Sponsor

Can the Zacks Rank Get Even Better?

Since 1988, it has more than doubled the market, averaging nearly +26% per year.

Last year, a little-known research development added pinpoint technical analysis to strong Zacks Rank stocks for even more timeliness, accuracy, and profit potential. Not only did it beat the bullish 2017 market, but over the past year it has closed timely gains of +81.5%, +57.4%, +52.1%, and +35.9%.

This strategy screens down the best 880 Zacks Rank stocks to a small selection poised to make big moves.

See Its Latest Stocks Now >>

Bull of the Day: DSW (DSW)

A bullish consumer and a strong loyalty program drove record sales for this shoe retailer. Read More »

New Zacks Strong Buys for September 20th

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »

Customize Your Profit from the Pros Delivery
Connect with Us:
Facebook
Twitter
StockTwits
Contact Info:

Phone: 1.800.767.3771 ext. 9339
Email: support@zacks.com

 
Get it on Google Play Get it on Google Play