Market Look

We think the NASDAQ/NDX and all that stuff is still working off of the ugly reversal/selling from this past Thursday. We suspect there is more time and price. Notice the selling today off of another mystery Monday gap to the upside. It does not help the NDX that AMAZON and GOOGLE reacted poorly to earnings….

If memory serves me right, just about every Monday has a positive open to it…same this morning. Lots of earnings this week but most of what we call “the biggies” have reported. This week: Not much Monday. Tuesday- CME, CMI, ETN, IPGP, MLM, PFE, RCL, SHOP, SNE, COHR, FISV, HLF and APPLE reports after the…

In no particular order: Watching gold stocks for first time in a while. 2 names sticking out as strength are low priced IAG and higher priced RGLD. A move above $23.06 would be important. Other commodity names like BHP and RIO still act well as the price of copper (JJC) broke out. OIL prices doing…

AMZN gapping down $32. It was up $30, finished down $6. Now down to breakout point. $1000 number important to hold. BIDU accelerating numbers…gapping out of base this morning. Big NASDAQ reversal yesterday…and it was not the good kind. The DOW saved the day ramping into the close…but after scanning, you can tell the boys…

SOURCE: https://archives.warpradio.com/btr/investorsedge/072718.mp3

Since many are asking: TRANSPORTS down 180 as we write this. Not a pretty picture. First off, we are not DOW THEORY people. DOW theorists say  the DOW and TRANSPORTS need to confirm each other and if one sways badly, it augurs trouble ahead. We are not so sure. We just believe you stay away…

NASDAQ/NDX futures up nicely because: FB up a juicy $13 on their numbers…a big wow. In sympathy, AMZN (reports after close) up $17 pre market… Others: Small to medium gaps to upside: TREE, BUD, TAL, ALXN, MA, ORLY, LRCX, PYPL, XLNX, GILD, EW, NTGR, NOW, MRK, CELG On the downside: BWLD, CYH, FFIV, DFS, WHR,…