Everything economically sensitive made the move yesterday…simple as that. RAILS, INDUSTRIALS, TRANSPORTS…
RATES backing up off of oversold conditions…FINANCIALS strong day off of. Basically a quick U-turn.
The S&P edges above a handle range.
All this because of “supposed” China numbers. Okee dokee!
Walgreens not helping DOW this morning…down $6.
Boeing big help yesterday as they software coming soon…but this morning…may take a little more time. The stock looks like it has bottomed.
LYFT trading under $66 this morning…$72 IPO opened at $88.60. How do you say MIS-PRICED?
Yes…we will mention this…BITCOIN opening up above 4 month tight range at its lows. We were in front of the “coin” carnage telling anyone who would listen that this stuff is worthless. A ton of the “coins” are now pennies. or less. As technicians, we will continue to cover if it continues to recover.
Lastly, after just two days ago, the president saying the Republican party will be the party of healthcare, the president punts and now says nothing will get done until after the 2020 election. We will leave that stand on its own.