Market Look

Futures were way down overnight but are now flattish. One would like to know what the short term holds. No clue. Don’t know. Quite random. Was actually asked what I thought would happen today.. No clue. Don’t know. Quite random.  But we do know the big picture worsened…simple as that…and whether we get a bounce…

The money quote: “For nearly a decade, the middle class in this country has suffered from a needless and self-imposed austerity, limiting investment of all the things that create good-paying jobs and improve the working conditions of Americans, improve the lives of Americans. This spending bill, this spending agreement brings that era of austerity to…

Futures this morning are way down. Time to do some recapping. We have told you: Over 60% of all stocks were in poor shape, trading below resistance and the all-important 50 day moving average. There is a simple thesis behind this. Trading below means you cannot go higher and as more and more names move…

A few things sticking out this morning: For a change, oils/energy have the bid. The fact is oil prices have moved up recently while the stocks lagged. Today, the stocks play some catch-up. A glance at the OIH, XLE, XOP and you will see 6 weeks trading at recent lows. Draw a line under the…

Futures are down a wee bit after an up day yesterday. Loved yesterday’s action in growthland. Hopefully, it continues. Other areas bounced including OIL PRICES which rallied back above the 50 day but most oil stocks remain gross. Today is fed day. They spent the last two days playing Space Invaders, Ms Pacman, Galaga, paper…

Futures up a wee bit after a rough day yesterday! Before yesterday: About 55% of all stocks in our universe were below resistance and the 50 day average.  Quite a few are much worse. There remain many bearish areas like real estate, utilities, housing, energy, oil & gas, a ton of consumer staples, a bunch…