Analysts at Brown Brothers Harriman noted the close on Wall Street and day's performance in the benchmarks.
Key Quotes:
"The Dow Jones Industrials and the S&P 500 slipped lower last week, while the NASDAQ tacked on one percent. Despite this and the fact that the Dow remains below the 20k psychological level, the underlying tone remains firm.
With the S&P 500 less than 0.5% from its record, and Dow 20k still in view, there is no sign that equity investors are disturbed by the lack of detail on tax reform, infrastructure spending, and deregulation. Since the end of November, the S&P 500 have been trading in a saw tooth pattern; alternating weeks are advancing and declining.
To extend the pattern, the S&P 500 needs to close higher next week A break of the 2250 area would weaken the market's technical condition."
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