With this poor open, just a reminder that the 200 day moving average is still around 25,000 and the 50 day moving average which has crossed below the 200 is still way above at approximately 24,600. The DOW is at 23,100 as we write this. That is a lot of territory between. This probably…probably means there is some more time and price, some more choppiness, some more back and forth before markets can possibly break the recent lows again. Just remember that when we called that first low around October 30, it took over 7 weeks to break that low because of how stretched, extended and oversold things were. Of course, the recent lows can turn out to be THE lows BUT have seen nothing to indicate that as of yet.
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- PRE MARKET/CHINAJanuary 16, 2019 - 8:44 am
First: https://www.cnbc.com/2019/01/16/chinas-central-bank-injects-record-amount-to-stimulate-economy.html So China going all out, for the economy or for the market or for both. Either way, the easy money, government-induced, central bank-induced markets continue…and until they stop having influence, you must obey. Since the “Powell switch,” markets act well. Yesterday was a good beta day leading to many set-ups as we […]
- RADIO SHOW 1/15January 16, 2019 - 8:37 am
- PRE MARKET/EARNINGSJanuary 15, 2019 - 8:24 am
Not a great day yesterday but not the end of the world. FINANCIALS were strong as C reversed early losses to have a strong gain. That could change for FINANCIALS this morning because JPM had its first miss since 2014. Notwithstanding another reversal to the upside, JPM is trading down $2.60…as we write this. Futures […]