Market Look

Add media, PAYX/ADT and a bunch of consumer staple names to the yuck side but the good news is there is still plenty working and major indices do not budge. We also make note that financials “feel” like they can head back up after being distributed recently. One decent day will do the trick. Otherwise,…

SOURCE: https://www.nytimes.com/2017/05/03/magazine/a-look-inside-airbuss-epic-assembly-line.html?_r=0

SOURCE: http://www.nasdaq.com/article/sec-approves-request-to-list-and-trade-quadrupleleveraged-etfs-20170502-01913

Futures are down a wee bit…just because. The Fed will announce no move today…blah blah blah… Apple (AAPL) down less than $1.50 after earnings came out. Market now looking at the next iphone. Actually surprised not down more. Gaps to the downside this morning: ETSY, TWLO, IPHI, AKAM, LCI, DXCM, VRSK Gaps to the upside:…

SOURCE: http://info.convergex.com/hubfs/Convergex%20Morning%20Briefing%202017%205%202.pdf?utm_campaign=Morning%20Briefing&utm_source=hs_email&utm_medium=email&utm_content=51397036&_hsenc=p2ANqtz-_c4P221xZ4xplJ1bgJIOYpd_1PNAjesGOxuoWNumHkv-0sASI5mMWsiHuo8B-kOiOFiLdZZ0F9SojPF0Ao9aYy9jszdg&_hsmi=51397036

We really do not need to mince words here. While the S&P consolidates under the 2400 area, THE BIG-CAP TECH/INTERNET remain en fuego. Simple as that. We can tell you that this kind of narrow leadership ultimately is not good but we would rather tell you this is the place to be until it isn’t….