Market Look

-We really thought we would be getting a few more days of pullback/corrective work…but then late Friday:- -“U.S. central bankers are currently debating whether it should confine its controversial tool of bond buying to purely emergency situations or if it should turn to that tool more regularly, San Francisco Federal Reserve Bank President Mary Daly…

-We changed our stance yesterday morning. We believe at the very least, a near term high was put in.  We say this because:- -That was one heck of a counter-trend rally. Markets do pull back.- -We started to see some breakouts fail.- -We started to see oils, financials, biotech and other areas roll over. This…

We are watching Europe closely. Numbers coming out are not very good…and that is being nice. Recession probability going up. The problem is they have no ammo as they still have negative rates and have not stopped the printing presses yet. We may have hit a wall in here. We saw some momentum indicators stall…

Another good day and another persistent day…and even though futures down a wee bit this morning, the SEMIS are again front and center as MCHP, SWKS have not so great numbers but are still up nicely on the open. Nothing bad happens when the SEMIS are bid. THE STATE OF THE UNION… Laughable on a…

BA and AAPL did the trick yesterday. Quite amazing AAPL crappy numbers…bad guidance but bought. It’s not the news. It’s how markets react to the news. BA did guide up. Bad news not going down. Good news  going up. Until that dynamic changes… Powell met with Trump last night but we are being told they…