Markets

The DOW dropped 470 points from 225 pm after ripping to the upside after the Fed minutes. The S&P dropped 48 points. The NASDAQ dropped 120 points. We are being inundated with emails asking why.  Frankly, we don’t know and could care less. The fact is the Fed was actually more dovish than most expected.,…

DOW down 250…NASDAQ hardly budged with the NDX up. SEMIS were also strong.  We walk in today with DOW/S&P flat but NASDAQ/NDX up strong. That is a theme this second. Not sure it is good news when a select few get all the money but won’t argue with it. You know the names. All the…

PAY NO ATTENTION TO THE DOW TODAY. The DOW was down over 200 points earlier and are still down 75 as we write this but: NASDAQ/NDX/SOX are doing the job in a big way. FAANG is doing the job in a big way. We would always rather see the growth/beta areas leading while the Dow…

Here be the deal. Friday’s late selling put the odds in favor that Friday’s high, give or take, was the high. Use the low of about 23,800 as important low. That was the low of 2/8…not the low of 2/9, which was the big reversal day. We give it very little chance to revisit those…

Anyone thinking we are going to revisit lows, get over it.  Another repair day and this time, the weakest names and areas are now curling up and completing their lows. If the weakest areas are done going down… STEEL be rumbling because everyone likes a trade war. Rumor out of the WH is that the…

Looking for a precedent where after an extended high, major indices drop 12% in days and then it is just forgotten as markets just move back through the resistance like a hot knife in butter. We have only went back to 2000 but so far, cannot find any just yet. Will search more over the…

After last Friday’s action, we stated that A low was put in for the market. This means for the near term, the lows of last Friday would hold. We said that because of the high volume reversal that occurred that day combined with the high volume reversal from a couple days before combined with extreme…