Markets

At this juncture, the SEMIS are the most important group to watch. As they go, beta goes. SEMIS are very strong today. You can see the 1020 breakout and support has held for now. If it continues to hold, we give very little chance for the “market” to further break down. That does not mean…

It is only 840 am but futures have bumped up nicely off of the fake job’s number which came in better than expected. Enjoy! This weekend: Will have a report on the most important sentence out of Trump’s Poland speech. As usual, no one talking about the most important part of the speech! Will have…

We are writing this before the fake job’s number. Futures flat. More damage done but keep in mind, major indices are only down a smidge. Not even close to real damage being done. We just think that at best, things get tougher and at worst, the next level of support will break…which means more to…

Hope you have been listening. The ice gets a little thinner today. Many looking for why! We couldn’t care less. The only thing we know is that we thought June 9th reminded us of what he had seen before…a top for an important area of the market. Before that, almost half of the market was…

SOURCE:  https://www.bloomberg.com/news/articles/2017-07-06/-voluntary-tax-plan-as-expected-fails-miserably-in-norway

On radio yesterday, I stated that off of a good NASDAQ day yesterday, I received quite a few emails asking me if the bottom in TECH/INTERNET/SEMIS and all that crap was over. To repeat, in our exhaustive studies going back since day 1 of the markets, bear phases in TECH/INTERNET/SEMIS do not last weeks and…

As we write this: TESLA target lowered by CITI…who has been bearish and wrong for a long time on the stock…but it is still down $13 to the 50 day average. We shall see if it holds. SEMIS bouncing…they are oversold after recent smack down. OIL lower…better action last week but we still say avoid….