Will talk much more about yesterday’s action as well as the whole week over the weekend but how about:
Transports and Financials up 7% in 5 days before a small late pullback. These areas major beneficiaries of the tax plan. I will also have a wrap up of other areas this weekend.
Futures down but off lows this morning. Europe is weak…but our market doesn’t care this second. NDX futures worse than S&P. As we have stated, semis/tech/internet have lost some of the ooomph as the market had a vicious rotation. The DOW is up 714 points this week. The NASDAQ is down 15 points. The SOX is down more than 5%…
And we do believe the tax bill gets passed in the Senate. We are fans of the corporate bill but have issues with the personal side.