—Gary Kaltbaum- August 31, 2018—
 —Maybe it is just end of month window dressing. Of course, window dressing is illegal so it does not happen. But support levels that we outlined for you have held. Pay no attention to the Dow only being up less than 30 points yesterday. The underlying market was equivalent to the Dow being up over 200 points.—
—As the market gapped down on Tuesday morning,supposedly because of North Korea, sellers dried up, buyers stepped up and the support levels we outlined for you were defended. The market easily reversed back up. Simple as that. Again, even though the Dow has not moved much since, we have seen enough to tell us those levels will hold for now. Whether or not we get serious upside is another story. And yes, we do know September is coming up and we do know this is pre-holiday trading. Keep in mind, we remain range-bound.—
—Off of a buyout for a whopping $10 billion for a biotech company with no drugs on the market yet, biotechs were bought with a fervor. They had been dormant. A bunch of speculative names soared while a bunch of names that have strong numbers also soared. This was huge to the NASDAQ/NDX.—
—Off of decent earnings, SEMICONDUCTORS also look like they have turned back up, The SOX sits in a 12 week trading range but definitely better action. Another big help to the NASDAQ/NDX. The SEMIS have remained strong while so many other areas have been hit.—
—The TRANSPORTS also held support off of 2 strong days. They remain a laggard but the move helps and is more evidence support is holding. The TRANSPORTS have done nothing for 9 months and have under-performed but most importantly, the big support held.—
—Our favorite big growth names lit up like a pinball machine. It is always a positive when these names lead up.—
—On Tuesday, the DOW held the 50 day average to the penny. The NASDAQ/NDX are back above also. These are very important moves.—
—Now let’s see if we can go topside. So far, we are just back in range and there is still plenty not working…but definite improvement regardless of the small Dow move.—