Thursday, 14 February 2019

Markets rise amid bullish technical signs

Markets rose on Wednesday.

The S&P 500 rose 0.3 percent, the STOXX Europe 600 rose 0.6 percent and the Nikkei 225 jumped 1.3 percent.

“Developments that show progress on U.S-China trade have proven enough to sustain positive momentum,” said Eric Weigand, senior portfolio manager at US Bank Wealth Management.

Meanwhile, technical analysts say more bullish signs for stocks are showing up in the charts.

“It does feel like the advance/decline line is really strong,” said Scott Redler, partner with

“All the stuff that rolled over at the beginning of 2018, one by one, are showing evidence of bottoming,” said Robert Sluymer, technical analyst at Fundstrat.

“Semis were one of the first groups to top last year, now they're one of the first groups to bottom,” said Strategas Research technical analyst Todd Sohn.

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