Monday’s Closing Look

Stocks ended a little lower on Monday on Donald Trump’s first official day in office. As promised, President Trump met with Business CEOs and made it clear that he is focused on creating an environment in which businesses can thrive. In the meeting, Trump made it clear that he wants to cut regulations and cut taxes.

Gary’s Thoughts: Trump killing trade deals but Republicans are fine. Hmm! The world has changed. Unions happy. Bernie Sanders happy. Hmm!

Main themes here:

Financials at the 50 day average. If market will continue higher, this area will hold and turn up.

Big tech/internet set up well but most report earnings soon. Again, setting up well.

Commodity names really acting well. Metals/mining/ore and you can add the fertilizers as they popped off 50 day in past couple of days.

Major indices now in their 7th week of very tight action.