Markets

Pullback yesterday…no biggie. The thought process coming in was market was tired off of the move off of the lows at longer term support. We suspect we are going to continue be range-bound…but range-bound is not bad. It elongates bases. It isolates strength. Of note: 10 year shot through 3% and now at multi-year high….

Over the weekend we said markets were stretched, extended and overbought in the near term. On radio yesterday, we said market felt ready for pullback. Not because anything is bad. It just felt tired along with the overbought conditions along with the action yesterday. Of course, that doesnt mean markets have to pull back. Overbought…

Last weekend, we wrote to you about two important days that led us to believe another good low was in but this time a move off the lows could be better than the last time. We simply saw the market have another strong reversal day on Thursday May 3rd followed by a strong day on…

A big fine not enough!~ SOURCE: http://www.miamiherald.com/news/local/community/miami-dade/article210861109.html

Another good day. More set-ups…new highs expanding…and volume picked up. S&P also now above the 50 day. Now just back into the range and a little overbought…would love to see a few days settling in. Will set things up very nicely. Also, very important SEMIS and FINANCIALS coming alive quickly. Market will not go up…