Markets

Since many are asking: TRANSPORTS down 180 as we write this. Not a pretty picture. First off, we are not DOW THEORY people. DOW theorists say  the DOW and TRANSPORTS need to confirm each other and if one sways badly, it augurs trouble ahead. We are not so sure. We just believe you stay away…

NASDAQ/NDX futures up nicely because: FB up a juicy $13 on their numbers…a big wow. In sympathy, AMZN (reports after close) up $17 pre market… Others: Small to medium gaps to upside: TREE, BUD, TAL, ALXN, MA, ORLY, LRCX, PYPL, XLNX, GILD, EW, NTGR, NOW, MRK, CELG On the downside: BWLD, CYH, FFIV, DFS, WHR,…

Before the market: Republicans vote to go to a vote on a vote they know will never pass. And they are calling it a success, a start…and you want to know why we are $20 trillion in debt. On top of that, we are now hearing some whispers about actually raising taxes on the wealthy….

The XLF sets up in tight fashion from an almost 5 month range. Notice it tightening up at the highs. In the big names, C, BK, MS have the best look. Notice the KRE tightening up along the 50 day average. A name like PNC very tight action recently.

DOW futures up 100…NDX is down though because of GOOGL. S&P up less than DOW. GOOGL down $32. Just keep in mind, it is up over $80 since recent low July 7. CAT in the DOW nice gap to the breakout today off of strong numbers. MCD also gaps up in the DOW off 3%…

There is not enough money in the world to pay for all this. SOURCE: http://www.cnsnews.com/news/article/terence-p-jeffrey/112000000-medicaid-enrollees-set-climb-40m-under-obamacare