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Nasdaq approaches record high closing level, and backs off


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Dow is above its all time record high close

The Dow has moved above its record high close level today at the 26828.39 level. We currently trade at 26872 with a high at 26897.14.  
The S&P has closed at record levels the last two days. At up 12.60 points, it is on it’s way to another record close
That leaves the Nasdaq index. 

Looking at it, the Nasdaq is currently trading at 8146.78 after peaking at 8158.422.  Although backing off from the highs, the index is getting closer to it’s all time high close level at 8163.99.  A move above that level will complete the “hat trick” for the indices. 
We are in July and have passed the end of the 2Q at the end of June.. That means earnings will be starting up.  July 15th really gets the season going with Citigroup, United Continental and Charles Schwab scheduled to announce.  Below is a preliminary schedule of some of the other companies reporting that first week.

It is hard to keep the market down, but the 2Q had a bit more headwinds from trade to deal with. Is it a good idea going into the earning’s season at all-time highs?
The price action (and tools applied) will tell the story. So far, however, the bulls are still in control.   

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