FYI: While there was some chop to this past week, the bulls remain in control as that chop right now would be seen as some form of consolidation after a round of market gains. The weekly gain for the S&P 500 was 0.3% and for the NASDAQ 0.9%. For the month of October the S&P 500 was up 2.2% and the NASDAQ 3.6%.
Monday was the only day of sustained selling and some attributed that to a report that the House of Representatives is considering phasing in a cut to corporate taxes rather than enacting them immediately. The actual House plan was released Thursday to much fanfare. Andrew Hunter, U.S. economist at Capital Economics, sees the Republican tax plan adding roughly $1.5 trillion to the deficit over the next 10 years.
Regards,
Ted
https://www.stocktrader.com/2017/11/05/weekly-market-recap-nov-05-2017/
