DJI closed higher. The island reversal pattern condition does not meet. DJI is to test the next resistance 26900 – 27000.
#1 Monthly retail sales grew 17.7% showing the consumers are spending
#2 Bloomberg reported that Trump administration is preparing an up to $1 trillion infrastructure package focused on transportation projects. That pushes industrial stocks higher. Companies such as Caterpillar (CAT), Summit Materials (SUM) and US steel (X) stand to benefit from the package and jump higher.
Cautiously optimistic! The Fed is saying the same.