Most notable is how FINANCIALS have been reacting whether numbers good or not so good. JPM, PNC open down on misses and rally up. Names that beat ramp up…like a GS. MS misses this morning…but only down a wee bit. There is no way the bear resumes unless FINANCIALS roll over again.
Notable: China unleashes a measly $83 billion into the system. Repeat $83 billion. That’s a lot of cake and tells you they are worried.
Notable: Maybe, just maybe the deceleration we have seen in the numbers here are stabilizing and maybe even accelerating a bit here.
There are still no names that have broken out of range and had good moves off the breakout…but a decent amount of set-ups remain.
NETFLIX (NFLX) after the close. We do not think it the biggest bellwether but one we watch nevertheless. The stock has ramped hard since them low in the market and had a strong move off of raising prices.
Up to 800,000 people still not getting paychecks. Our continued motto: both sides suck.
Futures down nominally…we are into the lows of the meat of resistance here…and thousands more names to report.