Market Look

Rough day but could have been much rougher. Major indices came back a decent amount off the lows. Just recognize, there is distribution up here. It does not have to mean anything. Just a point in time where the overall settles down and has normal pullbacks but: To repeat: TRANSPORTS now below 50 day. We…

Could the numbers be this bad? SOURCE: http://abcnews.go.com/US/tsa-fails-tests-latest-undercover-operation-us-airports/story?id=51022188

Futures are down decently this morning. Recently, we had been telling you about a bunch of divergences in the market. Namely: Advance declines not keeping up. Anemic new highs vs new lows. Small caps again underperforming badly. Transports breaking support and the 50 day moving average. Regional banks rolling over badly with bigger banks now…

Futures about as flat as flat can be but: COHR breakaway gap to the upside. TTWO strong gap to the upside. Other gappers are DXC, PLNT, MTCH, SYNA, REGN, HUM. Not a lot on downside. SNAP whacked even though someone taking a position in company. WIX, WEN, MGM, DVA also down. Just to recap yesterday:…

With the DOW finishing up: The TRANSPORTS are moving below the 50 day. The RUSSELL 2000 is already rolling over and headed towards the 50, if not more. Smaller and medium banks may be rolling over. (KRE) (KBE) New highs vs new lows had been pathetic…and needs to be watched. A/D 9-21 on NASDAQ today…

As we write this, Dow is down a measly 50 points, Nasdaq down 31. But… We think it imperative to flush out any issues market is showing and even with a non-event of a pullback: The TRANSPORTS are moving below the 50 day. The RUSSELL 2000 is already rolling over and headed towards the 50,…