Greetings from our offices in Amsterdam. (sarcasm)

On Wednesday morning, we called A low based on excessive pessimism, excessively stretched and extended to the downside combined with the strong close on Tuesday.

But dang! Way way better than we would have thought but then again, this happened in February also. Right after A low was put in, the market moved up in a v-shaped fashion before it hit a wall and retested for a few months.

We gap up strong again this morning off of a big move in Asia. The president once again, seems like the 20th time, came out to tell us things are going smoothly with China and lift China did. Technically, looks like a decent chance China and other world markets may have turned the corner after months and months of nausea. We must say the jury is still out but so far, so good.

The only issue this morning is that the almighty APPLE (AAPL) will not be of any help to things like the NDX.

We think we may just see what we saw in February…so expect once this initial rally peters out, to get some serious retesting. It just aint going to be that easy. The good news is that we have entered a period of seasonal strength. The good news is that A low may just be A darn good low.

Full report on Sunday.


Another up day. Just be careful. As we screened 1500 stocks, 200 sectors, many countries and commodities, it seems to us we just have a “beyond oversold” rally of unknown price and time. The MAJOR TREND does not change on two days up.

Just about everything still trade BELOW the 200 day average with the DOW sitting on it. The DOW always holds up best in bearish phases. Most growth stocks we follow are in between the 50 and 200 day, what we call no man’s land. The names that hold up best are the ones we isolate for when the market decides to stop the ugly. But many have broke below the 200 day.

APPLE (AAPL) up next for earnings. Many are in hope it turns the market up. We do not believe any one stock can do that, even the almighty APPLE. But always open to anything.

Futures off their highs today but still up a wee bit. Random whipsaw will continue in here as market(s) remain very stretched and extended to the downside.