THE CLOSE AND PRE MARKET

No changes. In fact, things accentuated…especially the mega-cap tech/internet areas. You know the names. AMZN, GOOGL, PCLN and a few others. Many are stating this is the climactic move in these names and be wary. We will let the market decide. We are of the belief we remain in a central bank-induced bubble but bubbles can last a long time.

Major indices act fine, look fine…with very little in the way of distribution. Of course, continue to stay away from all the areas previously mentioned by us.

Lastly…the VIX. We have heard lots of misinformation on the VIX. Just keep in mind, it is bullish that it remains low but it is bearish as a contrary indicator as it shows massive complacency and a one-sided trade because of the complacency. Stay tuned.

Futures up a wee bit. Strong Asia and Europe. Remember, they still have negative rates over there and are still printing trillions each year.

MAR gaps up on earnings. HTZ, NVRO, CBI to the downside.