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Futures are down a wee bit…just because. The Fed will announce no move today…blah blah blah… Apple (AAPL) down less than $1.50 after earnings came out. Market now looking at the next iphone. Actually surprised not down more. Gaps to the downside this morning: ETSY, TWLO, IPHI, AKAM, LCI, DXCM, VRSK Gaps to the upside:…

SOURCE: http://info.convergex.com/hubfs/Convergex%20Morning%20Briefing%202017%205%202.pdf?utm_campaign=Morning%20Briefing&utm_source=hs_email&utm_medium=email&utm_content=51397036&_hsenc=p2ANqtz-_c4P221xZ4xplJ1bgJIOYpd_1PNAjesGOxuoWNumHkv-0sASI5mMWsiHuo8B-kOiOFiLdZZ0F9SojPF0Ao9aYy9jszdg&_hsmi=51397036

We really do not need to mince words here. While the S&P consolidates under the 2400 area, THE BIG-CAP TECH/INTERNET remain en fuego. Simple as that. We can tell you that this kind of narrow leadership ultimately is not good but we would rather tell you this is the place to be until it isn’t….

Raise taxes=repercussions! SOURCE: http://www.philly.com/philly/business/Coca-Cola-says-Philadelphia-soda-tax-has-led-to-loss-of-40-jobs.html

This week’s earnings: AMD, AAPL, DNKN, DLPH, FB, GILD, HLT, MA, MRK, MLM, PFE, QRVO,  SHOP, TSLA, YUM. We would suggest AAPL, FB and TSLA are of import. Futures up decently this morning as big-cap NDX-types continue to win the day. The S&P building a nice cup and handle pattern but needs a move above…

A nice little two gapper romp started the week off.  Except for the transports, all major indices are now above the 50 day BUT! We throw in the capitalized BUT because even though we had the move up, not a lot has changed. What was good is gooder…but was bad, stays bad. To start, we…