Market Look

As you know, we have been stating that the market has been narrowing with 40% of the market in not so good shape. We have stated to avoid areas like commodities, energy, retail, biotech, autos transports and recently financials. Financials had not been hit hard but were certainly in the “loss of relative strength” camp….

Just letting you know watching them financials (BANKS,REGIONALS,S&Ls)real closely. They have been sitting range-bound under the 50 day moving average since March 21 with no ability to get back above resistance. The good news is that support has held throughout the many weeks. Support looks like it is going to be tested again soon. Needless…

Futures are down decently this morning as we are sure this opening move down is directly because of the latest accusation on Trump. Without taking sides, this is important. Political risk is important…especially now. We are of the belief the market has made a big bet on: Tax reform…which included lower marginal rates, lower corporate…

Futures down about 70 Dow points as we write this as new accusations hit the Trump administration. Next, he inflated the footballs. We will have a wide ranging opinion piece on what we are seeing real soon as we called this months ago…on radio, on tv and right here. Another narrow day today as the…

Are we going to have a day where the president is not involved in some sort of controversy? The media gets no credibility from me based on past performance. Notice everything is from “un-named sources!” We are not Trumpsters. Those that listen to the radio show know we have tons of issues with this president…

The good get gooder. Simple as that. Tech/internet/semis and now cyber everything (cyber attacks) working. Many now very extended. So careful. But leave no doubt, remains the bull of the woods, Semis into another new high as they cannot be stopped. A few names names setting up. Also watching the tight action on the financials….

SOURCE: https://www.recode.net/2017/5/15/15639748/amazon-jeff-bezos-walmart-ipo-anniversary-market-cap-worth-double