The markets have responded quite strongly as President Trump laid out his plans for America in his first speech to congress. This sent the S&P 500 (NYSE: SPY) blasting higher, hitting new all time highs yet again. The move puts the SPY up over 6% year to date with almost 5% of that coming in February.
The Nasdaq 100 (NASDAQ: QQQ) has been impressively strong since the beginning of the year and this week that trend continues. Although Monday and Tuesday were slow for the tech index, by Wednesday it had move once again to all time highs, continuing its up-trending march. For 2017 the Nasdaq 100 is almost to the 10% mark.
Bonds (NYSE: TLT) have broken their short term uptrend as a loss of over 2% on Wednesday sent prices back to recent lows. The move keeps prices stuck inside a range that has been holding since the end of last year. Technical traders note the highs as being around $122, and the lows around $118.
Gold (NYSE: GLD) also sold off a touch after Trumps speech to congress but remains in an uptrend. Technical traders will not worry too much over Wednesday's pullback as long as it does not fall much further. Many technical traders will look at a move under $117 as the possible end to the uptrend that began early this year.
Finally, healthcare stocks (NYSE: XLV) continue to be incredibly strong, almost breaking to new 52 week highs. The move is in response to Trumps plans to overhaul Obamacare. His efforts so far have helped move healthcare stocks up almost 10% just for the month of February.