The fundamental case for Dow 30,000 during Donald Trump’s first term has strengthened as earnings season winds down.

Interestingly, this is happening at a time when, from a technical perspective, the stock market has staged a successful breakout of low volatility since the election. Still, there are two danger signs, as shown on the annotated chart. Please click here for the annotated chart.

The biggest single factor in the long-term direction of stocks is earnings growth. The current consensus for S&P 500 Index SPX  operating earnings (often traded using the SPDR S&P 500 SPY ), are $133 per share. According to the Arora Report’s analysis of Trump’s proposals, tax cuts could add about $13 to S&P 500 earnings.… Please click here or the title below to read more.