The Morning Look

Stock Market Overview: 

Futures are up on Wednesday after the market rallied on Tuesday. U.S. Stocks were closed on Monday for president’s day. The market is trying to bounce from deeply oversold levels. Oil prices hit the mid 20’s last week and are now bouncing. Gary called the top perfectly for you in the latter half of 2015 for stocks, helping you sidestep this year’s brutal sell off.

Gary’s Thoughts: And we also called a short term low this past Thursday. Please remember, bear market rallies are sharp, quick, make you feel good, get everyone feeling better, suck you in and bury you soon after. Maybe we have seen THE low. Let’s get some evidence.

Economic Data:

• Empire State Mfg Survey 8:30 AM ET
• Patrick Harker Speaks 9:00 AM ET
• Housing Market Index 10:00 AM ET
• Treasury International Capital 4:00 PM ET
• Eric Rosengren Speaks 7:30 PM ET

Highlights Of The Day:

• Shares rallied on Monday after Mr. Draghi reiterated that the ECB is ready to act in March
  Gary’s Thoughts: Never ends!
• China’s Bad Loans Rise to Highest in a Decade as Economy Slows
  Gary’s Thoughts: All is well. Bad loans are a good thing! (sarcasm)