The Closing Look

Stock Market Commentary:

The major indices were simply all over the map. What looked like a good close turned into another drop into the close. The inability for the market to bounce clearly illustrates how weak the market is right now and tells you everything you need to know. In other news, oil prices fell 5% and is once again trading in the high $20. Gary has done an excellent job of keeping you out of harm’s way since he called the top last summer.

Gary’s Thoughts: Still stretched, extended and oversold. A good rally/bounce could happen at any time but so far, nothing doing. We hear Mrs. Bubble goes front and center tomorrow and Thursday. Rumors are running rampant that the fed has warned banks to stress-test negative rates. Wow! So far, anyone who has gone negative has seen their markets collapse.