Market Look

~The following is our report from this past weekend. It was titled “CHANGING OF THE GUARD!” It was our thought process that the winds were changing. Leading groups were now done and it was now important to watch other areas come to the fore. So far, they have but time will tell. Yesterday’s action showed…

Our stance remains the same. Darn good chance there is a changing of the guard as the leading Nasdaq/NDX/Tech/internet/semis and all that stuff look like last week’s high volume drop from very extended conditions is it for now…for now. You can see it in the market again today as the Dow ended up but the…

Mnuchin was talking this week about the debt ceiling. Much ado about nothing. Don’t worry! All’s well. Sure! All’s well! We’ll just raise the debt ceiling again. Federal Spending Year 2000- $1.789 trillion Year 2008- $2.982 trillion Year 2016- $3.951 trillion Year 2021 estimate- $5.124 trillion…yup, headed for $5.124 trillion Total federal debt outstanding Year…

SOURCE:  https://www.wsj.com/article_email/gymboree-files-chapter-11-cfo-leaves-1497268737-lMyQjAxMTI3NzE3MzcxMzMxWj/

SOURCE: https://garykaltbaum.com/the-scam-and-the-con-called-bernie-sanders-2/

So far, this reaction to the downside in glamour-types have a ton of names taken down to their 10 week/50 day moving averages…and holding for now. Others (the real strong names) did not even get close. Is it possible this was just a big scare down to moving averages off of extended conditions? Sure…but let’s…

In a repeat of late Friday, NASDAQ futures down nicely while S&P hardly budged. As we stated Friday, there is a decent chance a chance we have a change of complexion in the market. Yes…it is only one day but it was a loud day volume-wise. We will need to see some more cards come…