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All right -- let's get to the markets now have a job and it's right there.
We have the -- -- Dow's up a little bit but the focus here is on earnings which Nicole talked about.
At the top of the hour McDonald's was a big one it missed expectations for the second quarter so a lot of people are going to be looking at that stock including us there it is.
Today down by almost a 3% thanks to this earnings report so.
Broadly speaking -- earnings momentum be sustained Katie stock that is with the strategy directed and -- and partners and she joins us.
Now you talked about the fact that -- -- candy are that you believe it can be Katie that we can keep this going.
Anything from reports like McDonald's that give you some pause this morning.
Well McDonald's is obviously an example of a stock that gaps down in response to earnings.
And of course McDonald's as a restaurant stock -- stocks in general have underperformed the broader market and I think that's in part due to.
The rising price of -- -- -- since the McDonald's of the world.
Actually harder to come back we've seen a lot more stocks break out our gap up it response to earnings and I think that is sustainable so it's really positive earnings cement and.
Let's talk about that a little bit the S&P 500 clearing some resistance as you talked about in your recent notes and you mention the fact -- an individual stocks are also breaking out.
Technically which is how you look at the market there's the S&P.
Today it's 6095 so.
Let's break it out short term what's the next big number that you're looking -- -- S&P 500 having reached a new all time high that break -- that -- high yield in the short term target of 1711.
That's very conservative in my opinion in the big scheme of things that looking for about 1780.
Over the long term in the months ahead.
1780s pretty big job and in the months ahead being what six months -- years something like that as we -- -- month transparently it's fast and fourteen is that kind of where the mark -- tops out for a little while or.
What happens after that if we get there anything.
I think could be a national -- for the market to see a significant traction.
But by no means to write -- -- this stopping playing for the market.
We still have very positive long term momentum and really no signs of exhaustion.
And a longer term overbought ever -- measures that I track one of the things are -- through.
Okay one of the things we've been tracking and we're gonna -- about housing later in the context of where interest rates are -- we.
The tracking interest rates obviously the day to day basis and as we've seen rates creep up is that something may be.
Is there -- magic numbers say for example on a ten year yield that then you start to get worried about the stock market.
They're probably is -- magic number and it couldn't tell you what it is.
I do you think that we -- -- landscape shift in the ten year treasury -- for example.
Brett has turned a corner and will work its way higher so that probably is a level at which that does affect equity market.
But for now the -- were tracking each other higher sorry for now it's not an issue that should understand that we're now admits it's much higher than this is that what your point -- Yeah I think -- and back my target range after the ten year treasury yield is about 375.
That's -- very long term target and yet I do think it's achievable -- the long term.
At that level it can matter but for analysis -- the momentum indicators and try to generally stay in the same side of them.
Fair enough and we will still keep -- good numbers talk there with Katie stock to get to see Katie thanks for coming up.
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