Markets

Market is closed Thursday and open until 1 pm on Friday. Normally, this week has some seasonal stretch, normally. The negatives: Only about 60% of the market is in good shape…based on our proprietary scans of over 2000 stocks and 200 sectors. Amazingly, there were a couple of days this past week where there were…

Futures up a wee bit but strong day yesterday. NASDAQ got back in one day what it lost in 5 days…and the 5 days wasn’t that much. If they can only correct the market 1% while internals headed south…you can fill in the blank. Gaps to upside: FL…not as bad as expected. Stock had been…

SOURCE: http://www.dailymail.co.uk/news/article-5090421/Vietnam-War-veteran-stands-guard-buddy-s-casket.html

Yesterday’s bear market already over. Nice gap to the upside today…as bear markets last one day these days. CSCO up nicely this morning on a 2% drop in sales and flat earnings. The clue yesterday is what we wrote to you midday…FINANCIALS held and rallied right off the 50 day. That said…internals have headed south…

Market way off early lows. Look where BAC, JPM and the whole XLF held this morning…right at the all-important 50 day moving average…a place in bull phases where the big boys stand up and defend the turf. This will be vital to the market that this area holds. When you have a chance scan those…

Futures down decently. My goodness. We may just get that whopping 1% bear market. (sarcasm) Just remember what we have reported to you: Our sentiment indicators have been flashing red for a few weeks. Bullishness and speculation have been rampant. Again, that does not mean a correction is ahead. Sentiment is a secondary indicator. It…