Market Look

SOURCE: https://www.zerohedge.com/news/2018-03-13/new-jersey-prepares-raise-taxes-almost-everything-it-nears-financial-disaster

Well that was not nice. But not much changed. More than half the market remains bearish. The less than half that has been leading, especially NASDAQ/NDX/SEMIS/GROWTH all pulled in. Blame was said to be on the administration that blocked the AVGO for QCOM deal…but we could care less. Those areas pulled in. That’s all. Just…

Looks like and “feeling” like the stretched, extended and “overboughtness” of the NASDAQ/NDX/SEMIS and all that stuff showing up a bit today as many names strong early and now red…does not mean trouble. Just recognize how extended things are in these areas…with stalling and pullback potential in the near-term.

Futures up nicely. SEMIS, TECH, INTERNET, NASDAQ, NDX, BETA, GROWTH. FINANCIALS in shape…just a lot slower than beta. Extended, stretched, overbought in these areas but overbought can get more overbought. DOW was down yesterday…BA, CAT no help. Remember, BA has HAD a monstrous move. Contributed a ton to the DOW. Not sure we need to…

When you get past all the wild action, our themes have pretty much remained the same and that is: February 9th was not only A low but was THE low that will not be taken out any time soon. And now with the strong action of the past week, we highly doubt we break the…

3 things: Big big big jobs number…no way around it. Our favorite # was the 806,000 that have jumped back into the work force. Futures up VERY STRONG. The NDX will open at a new high…amazingly. Let’s hope the gap holds. We have seen a few too many reverse. Yes…they can reverse markets on best…

SOURCE: https://archives.warpradio.com/btr/investorsedge/030818.mp3