Market Look

Strong DOW day yesterday as UNH soars on a flip flop from the prez on drug rebates, BA bounces, GS strong as long yields back up. Most of the rest of the market under-performed. Amazingly, the small and mid caps were again down. Normally we would tell you this divergence must lead to disaster but…

–We recently told you there was a darn good change big cap indices would go topside and break out of a long trading range. First off, the patterns were there but more importantly, we expected Powell to lower rates. We laughed at a few people saying Powell would not lower rates. We shall see how…

Mystery last minute pop yesterday gives strong NASDAQ day while DOW was down…no biggie. Futures down this morning when Powell told the world they are lowering rates at the end of the month. Futures now up nicely with major large cap indices opening into new highs. So…GDP in the 3s, unemployment in the 3s, major…

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Futures are down after a down day. But we are not seeing much in the way of damage. In fact, there were a few growth names up nicely yesterday. BUT…if we have multiple days where the A/D is bad, the complexion of patterns could change so stay tuned. Next week, earnings start up in a…

After a very good reversal Friday, market gives it back on the gap this morning as Asia weak and yields are falling again. If one was looking at stocks, one would think the economy and earnings are accelerating. If one was looking at bonds, one would think all heck is going to break loose. We…