| | |

The Morning Look

Stock Market Overview: 

Stock futures are down after Friday and Monday’s steep sell-off. Clearly, sellers remain in control of this market as the major indices continue to get smacked.  On Monday, the Nasdaq Composite and Nasdaq 100 broke below support of their bearish flag patterns we highlighted for you last week. These are very weak patterns and suggest lower prices will likely follow for the bear market we are seeing in stocks. Gary called the top perfectly for you in the latter half of 2015, helping you sidestep this year’s brutal sell off.

Gary’s Thoughts: We were actually hoping yesterday’s late rally could lead to some upside today. Nothing doing! Our big report explains it all. Lots of rot showing up around the globe.

Economic Data:

  • NFIB Small Business Optimism Index 6:00 AM ET
  • Redbook 8:55 AM ET
  • JOLTS 10:00 AM ET
  • Wholesale Trade 10:00 AM ET

Highlights Of The Day:

    • Steep selling continues on Wall Street
      Gary’s Thoughts: Unabated right now!
    • Chipotle Closed Stores on Monday For Safety Measures. Company Starting Program to Help Farmers Ensure Safety of Food
      Gary’s Thoughts: They had better get a good hold of this because a next time will not be good!
    • Taiwan Quake Toll Climbs to 26 as Rescuers Search Rubble
      Gary’s Thoughts: Only prayers! 

2 Comments

  1. This is now out of sync to 08 although still looks similar, acceleration to downside now seems faster than 08.

  2. I have been waiting to add to my short position in the s and p 500 and Russell 2000. Will gary tell us when to short again? Secondly, I was interested in shorting a sector. I was thinking of the XLF. your opinion would be greatly appreciated.

Comments are closed.