Market Look

Futures down a wee bit…but no biggie. Amgen (AMGN) down $13 on negative cholesterol drug news. Biotechs have been acting well. Not this morning. Other “cholesterol” names hit hard. Tesla (TSLA) prices condary at $262. Adobe (ADBE) the big gap to the upside on strong earnings.  

Quiet day…just what one would want to see. Not much to take away. ORACLE with the big gap to the upside on boring numbers. Notice that the gap was distributed so nothing to do just yet. Housing continues…and should be looked at on pullbacks. A few names report next week. Biotechs finally coming in. Again,…

Futures up off of yesterday’s move. It actually looked like the Fed lowered rates yesterday as the dollar tanked lifting commodities and the like. Big picture…market continues to not be able to drop even 2% on corrections. Major indices do not even want to visit the 50 day moving average…as they hold the shorter term…

Good day Wednesday!   EEM/EFA break out. Down and out commodities find a low as the dollar gets rapped even though one would think the dollar would strengthen off of a rate hike. Go figure. NASDAQ 100 into new highs. NASDAQ just about. DOW and S&P cannot even hit a 2% correction. SEMIS remain strong….

Word to the wise. TRANSPORTS and SMALL CAPS leading down again. W have told you to avoid as they have been losing relative strength. The same for ENERGY and COMMODITIES. Now…we are seeing the rest of the market getting a little bit of the distribution dance. Just pay attention. Starting to see more names break…

This is your early early pre-market. The big story is that famed hedge fund billionaire Bill Ackman s completely out of his Valient Pharma stock after riding it down from over $260 to where it is today. We are always amazed how so many are making fun of this man for losing so much. This…

Even though major indices didn’t move much, not a lotto complain about…unless you are a Knicks fan. First off, for all our friends in the northeast, stay safe. What we do like is that we are still seeing some growth glamour names setting up nicely in here…even at this stage and to be brief, the…