PRE MARKET

Good semis day yesterday. Good beta day yesterday. Semis are meaningful to our work as they lead up and lead down. You can see the SOX/SMH holding the 50 day. Now we can see if it breaks out again.

China ADRs en fuego yesterday. Many report this week. Not thrilled that they ran in front of the number.

Futures actually down this morning…the horror!

KORS, RL gapping up. Both stocks down and out beat lowered estimates. Numbers still not thrilling for either.

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