Very good day yesterday for industrial types, economic sensitive stuff and Dow types as the DOW led up. Simply put no complaints except all measures overbought here and would love a pullback. Pullbacks work off froth and speculation. Just keep in mind overbought is a good thing…better than being oversold.
“FANG” and GLAMOUR STOCKS
We continue to see not so good action is some of the glamour names as we head into earning’s season. AAPL, AMZN, NFLX, TSLA, PCLN losing some luster…trading BELOW resistance and moving averages.
FINANCIALS continue the slow ascent. Higher rates on the long end continue to do the trick…just very slow stuff.
GOLD…market up, gold loses luster…trades below moving averages.
Hope all doing well. Continued prayers for those affected in Vegas and amazed at the heroism by many. Imagine laying on top of someone you don’t know to block them from bullets flying over head.