Guest post by Joe Hoft
After having a tumultuous first week to the month, the Trump Stock Market Rally got back on track and quietly set a couple new all-time record highs last week.
As January came to a close the Trump Stock Market Rally was on fire. The Dow was up more than 45% since the 2016 election and numerous all-time record highs were set. In 2017 the Dow recorded more all-time highs than any year in US history and 2018 was a continuation of the Trump Stock Market Rally.
The economy was on fire. GDP was being projected to be near 5% for the first quarter. Unemployment was at 45 year lows and consumer confidence was through the roof top. Positive results from the tax cut bill were not yet in effect. All signs were showing a continued rally.
Then came the February surprise. The first week in February showed the market decreasing by alarming rates. Twice the market dropped more than 1,000 points. Democrats and their liberal cheerleaders in the media were ecstatic. The Trump Rally had ended. To hell with America, the bad economy was good for them and their thirst for power.
Something didn’t make sense about the markets going down though. We soon found out that unethical actions taken by Chicago options traders caused the markets downturn. This is the only explanation that made sense and the SEC has now been advised. (We’re not sure if Obama and Hillary had anything to do with it.)
Quietly last week the Dow rebounded. By Thursday the market had regained more than 1,300 points in the prior five days of trading (1,340). This had never happened before. In the history of the Dow, the markets had never gained more than 1,300 points in five trading days. In fact, the Dow had only gained more than 1,000 points in five days of trading only four times as of Thursday – on March 21, 2000 by 1,096 points; on November 3rd of 2008 by 1,144 points; on November 28th of 2008 by 1,277 points and then again on Thursday.
It’s funny, when the stock market went down in the first week of February, the media was all over it. Now that a new record was set for the best five days in trading history, the media was silent.
By Friday, the markets had achieved the best week in Dow history. The markets were up 1,028 for the week. The Dow had never gained so many points in its rich history in one week. Some media outlets reported that the Dow had its best week since 2015 – hogwash. This was the best week ever.
Day after day the Trump Stock Market Rally continues to thrive. The mainstream media won’t report it but we will at TGP. We can expect to see continued market success and Americans will continue to benefit in their 401k accounts, whether the media reports it or not.