Market Look

SOURCE: http://www.hollywoodreporter.com/news/tv-stocks-tumble-at-t-cord-cutting-disclosure-1048224

Earnings season getting started. Both C and JPM reported. As we write this, C is DOWN 13 cents.  What a move! JPM is DOWN 13 cents. On another note, DPZ down a big $13 with JNPR down about 5%. Tomorrow, we get BAC,PNC, WFC, JBHT and next week, we get a ton. Futures down a…

Futures down a wee bit but as we enter earnings season: Still seeing no distribution. In fact, any weakness during the day, gets bought up. Recent closes have been on the strong end. Not a hint of trouble in semis and financials. Financials recently caught up as long rates backed up. World markets remain strong….

Strong open…weaker day…stronger close. SEMIS again…no giving back. Financials weak early but green late. A/D fine. New highs fine. Extended yes. Stretched yes. Overbought yes. BUT…doesn’t matter until it matters. Don’t really need to add much more. Earnings in droves starting this week. Pay attention.

Back in the states. Tired, jet lagged but glad to be home. Biggest problem I have is my Giants. Geez! Futures up a bit with earnings coming out in droves starting later this week. The most important part of the equation near term is that the “glamour” types started getting a bid again last week…

Greetings from Glasgow airport as we are just about on our way back from Ireland and Scotland. Had a fabulous time. More on that from our travel blog post in a day or so. Just to get them out of the way, a few negative area notes: OILS may have topped near term as oil…