Market Look

We told you Wednesday, after some suspicious action, that our leaders page did nothing more than get hit down to the 50 day/10 week moving average. This is a place where the boys come to defend or take a powder. Yesterday, a couple of hours in, they defended and this morning, a decent sized gap…

Just letting you know a bunch of growth leaders have recently been hammered on volume. But many were so extended, all they have done is fall down to their respective 50 day/10 week moving averages. It is this are that will be vital to hold. We will know more on any bounce, how they bounce,…

Futures only down a wee bit but lots of jello moving on the plate. Yesterday, NASDAQ up 60, finishes down. Need we say more…just more distribution. Again, does not have to mean the end of the world, Just recognize things have changed in that space. This includes semis/tech/internet and all that stuff. Seeing some pretty…

-By Gary Kaltbaum- December 5, 2017- -Sorry! I kinda sorta already reported on this nonsense but then Nancy Pelosi decided to open her mouth.- -ARMAGEDDON: “the site or time of a final and conclusive battle between the forces of good and evil.”- -Nancy Pelosi, a woman who very much is ground zero for why we…

More of the same this morning. DOW futures up 80…S&P only about 3 and NDX futures hardly up. NDX futures were down decently about an hour ago but have since bounced. Reading many saying these divergences augur trouble to come. They could be right but we are not there yet. We would rather just stay…

We outlined for you this morning to watch for a ‘sell the news” day. This was not just selling. Leading growth/tech/internet/semis and all that stuff was mauled. To be clear, anything is possible but this does not look like ordinary selling or an ordinary pullback in these areas. To our eyes, this selling looks consequential…