Market Look

Futures up nicely after market was all over the map yesterday, opening strong but finishing flat…but: The bond market is decently lower today as rates on the long end back up. This means we will get a little gap to the upside in financials. A few big financial names set up well with the best…

Yesterday, we stated that a bunch of glamour growth names were either breaking support or pulling back heard. BUT…we were not saying any additional selling in other areas. Of course, that could change but as of the close, nothing doing. A few thoughts: OILS now extended and overbought from this recent move. Suspect pullbacks are…

This weekend, we told you something was up with big cap tech/internet and all that stuff. Some of the major players were acting suspicious. Suspicious just turned into some serious selling, at least for those favored/glamour areas. As we write this: The NDX easily sliced through the 50 day average that we outlined for you…

Dow futures down a wee bit but NDX futures down decently. To get more specific: AMZN remains on defense trading below the 50 day average after disappointing Wall Street. A break below $936 makes things worse. AAPL  remains on defense as worries over the new I-PHONE continue. The stock broke the 50 day on heavy…

Still, nothing in the way of even a 3% correction. Major indices, for the most part, remain in good shape. The DOW and S&P”s breakout from early last week remains intact. The NASDAQ and NDX remain in shape but we are now seeing some mega-cap names causing a little bit of lagging here. Names like…

Quiet! But again, market refuses to budge. Any weakness is sopped up. EASY MONEY RULES! Yellen stating she will roll back QE is laughable. Already said she would reprint if markets fall. Really? VSAR…as this is written, the stock is trading at $3…down $18.60. That is not a typo. Another BIOTECH with no sales with…