Your Monday Market Blip 7/17/17

Your Monday Market Blip 7/17/17

After having been away for a week it is good to see the markets doing well. The Dow closed Monday with a small loss of 8 points at 21,629. All major indexes are at or near highs and both BTS and IBD indicators are positive. Netflix reported after the bell today and it looks like they did better than expected.

Earnings reports so far are very good. As of Friday, according to economist Brian Wesbury at First Trust, 30 of the stocks in the S&P 500 had reported and the results showed an average 15.7% increase in Q2 earnings. More reports will flow this week so we will get a better idea but the early results are better than expected.

Shares of Blue Apron were pummeled after Amazon announced it was registering for an online food delivery name. Online food delivery startup Blue Apron, which went public recently, is currently under water thanks to the path of disruption caused by Amazon.

Scouting at Camp Fire Mountain went well. 48 lunkheads were on the trip. They fished, boated, swam, flung arrows, sang songs and ate everything in sight. The midnight zip line was a blast as was the Deer Call Choir which was posted on Facebook (https://www.facebook.com/troop100seattle/). We had 17 rank advancements and I think we picked up 200 merit badges. I discovered the starting QB1 for the 2024 WSU Cougars among our ranks. Only a couple of headlocks were issued as our scout leadership did a great job herding the cats.