Markets

Futures down a bit and all over the place as tweet after tweet comes out on China trade. But backing away from the noise: Major indices held the 50 day moving average yesterday…a place that normally holds in an uptrend. Get the hint! The NASDAQ, NDX, RUSSELL, TRANSPORTS and S&P bounced off this vital area….

Uh…the market is down on the open as trade tensions escalate. We are of the hope the president backs away from the tariffs that go in effect tomorrow. We really thought he would because he had no choice but not sure any more. Markets were overdue to correct because of a strong first 4 months….

Crappy day yesterday though nice little rally at the close to make things less worse. Futures down this morning. China trade front and center. WE DO NOT BELIEVE THE PRESIDENT ENACTS NEW TARIFFS THIS WEEK. If he does, major disruptions as no business has prepared for it. In fact, they have been told for weeks…

Very good comeback yesterday from the early depths…only to walk into another gap to the downside…just less so this morning. The good news is that the RUSSELL 2000 again led yesterday which could indicate a broadening out. Small-caps have been lagging large-caps for a while. We shall see if that lasts. The good news is…