The big story will be the G-20 meetings and all the trade stuff. We’ll know a lot more over the weekend.
FINANCIALS gap up this morning as EVERYONE beats the fake stress tests. This enables these financials to raise dividends and buy back more stock.
GOLD still in bullish pullback. As we stated a few days ago, we think the move out of range was real.
Another strong day for SEMIS on crappy numbers out of MU. Go figure. The SOX back above the 50 day.
BITCOIN and COINS hit hard yesterday but that was just a little climactic move that needed to pull back.
BA…still too much uncertainty for our tastes and now it looks like more time to get the planes flying again.
Indices look fine and constructive off this pullback but the G-20 meeting will matter. We suspect both parties know they need some kind of a win. Our best guess is a truce for now with no new taxes with the rhetoric toned down…but just a guess.
Last night’s debate…a socialist’s paradise. We will write about our thoughts over the weekend.