The Morning Look
Stock Market Overview:
Stock futures are up nicely after the three day steep sell off we experienced on Wall Street. This appears to be another oversold bounce as there remains virtually no quality leadership to speak of. Oil prices fell 5% on Tuesday and closed in the high $20’s. 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: Morning’s like this trap the shorts and prevent people from getting long as who wants to buy a gapping up market in an overall bear market? Markets do go up. Do not forget that. Rallies in bear markets are normal!
Economic Data:
- MBA Mortgage Applications 7:00 AM ET
- Yellen Text To Be Released At 8:30 a.m. ET
- Janet Yellen Speaks 10:00 AM ET
- EIA Petroleum Status Report 10:30 AM ET
- John Williams Speaks 1:30 PM ET
- Treasury Budget 2:00 PM ET
Highlights Of The Day:
- Goldman Sachs Abandons Five of Six ‘Top Trade’ Calls for 2016 – Here
Gary’s Thoughts: NO COMMENT! - Electric Fantasy: Will the Next Tesla Sell for $25,000?
Gary’s Thoughts: The bigger question…will it make money?
- World’s Negative-Yielding Bond Pile Tops $7 Trillion: Chart
Gary’s Thoughts: Yup…central bankers continue to smoke crack!