Market Look

Let’s do good news this morning. Major indices continue to hold the 50 day average off of this 5 week pullback. The pullback remains constructive overall though there have been a few sectors in trouble. The financials have been hit below the 50 day moving average but have held this first move down. If the…

Just a few things to take away from today. A few names like NTES,NVDA breaking near-term support on volume. We just mark them off the card. Too many…then we will talk. AMZN, TSLA remain the bull of the woods in recent trade. Both extended here. AAPL just continues. AYI blow up of the day into…

Futures down decently this morning. REMEMBER, we are watching financials to see if any other cracks in the armor show up. We are now in the 5th week of pullback/corrective work. So far, it is nominal but financials remain under the 50 day and remain on the soft side. Bulls do not want to see…

Good comeback by the market as financials stopped the ugly, reversed a bit and of course, the market followed. But the Russell was down the equivalent of 200 Dow points and areas like autos, auto parts, auto parts retail are crumbling. So…fewer and fewer stocks and stuff working…so pay attention. Pay close attention.

We have been telling you for about two weeks about our worry with the recent action in financials. They are being distributed with in our eyes, near term bearish patterns. We bring this up because since the election, financials led the market up. It is not a reach to say if they head lower, they…

Futures up a wee bit. We are watching closely here as we enter earning’s season…especially financials. On Friday, C, JPM, PNC and WFC report. The reactions will be important as financials have had some distribution recently. Since they have led up, we have to watch if things worsen, will they lead down. So far, nothing…