Markets

NDX futures up decently…S&P futures just above flat. NASDAQ/NDX continue to get the money flows. Gaps to downside: LOW, TIF, AAP, DY, BG, UHS. To the upside: INTU. BG was rumored to be bought yesterday…says no rumor today…gives it back. Be careful! AAP adds to the auto parts retailing misery after AZO being smoked yesterday….

Not a lot to take out of market today. Yes, the housing stocks reversed down on good earning’s news. Yes, the financials were strong as long rates backed up. Yes, leading growth names as well as the semis pulled in. And yes, Autozone (AZO) was smoked. We had been telling you to avoid almost anything…

-Trump proposes a $4.1 trillion budget, the most ever…and THEY complain. -Last year, we sent them $3.3 trillion and they still couldn’t balance the budget…and THEY complain. -Every program grows in size again but THEY complain. -Last month, the taxpayer…we repeat…THE TAXPAYER spent $34 billion on JUST INTEREST PAYMENTS yet THEY complain. -$34 BILLION DOLLARS JUST TO…

Futures are up. Europe is up. The UK is up. What? How can that be? We just had another terror attack. This one targeting innocent children and teenagers. All they were guilty of was attending a concert for one of their favorite pop stars. First off, our prayers go out to all affected. Unfortunately, no…

There looks like there was a terror attack in Manchester, England at a Arianna Grande concert where it is being reported many dead and injured. This is a concert where teenage girls flock. We are thinking of Manchester and anyone affected. We will back off talking about market until the pre-market report. Say a prayer!…

We forgot to mention DEFENSE stocks gapping up on the news that President Trump cut deals with countries in the Middle East to buy a bunch of stuff. This gap will take a few names out of trading ranges.

Futures are up a wee bit this morning. We wanted to add some thoughts to our weekend report. The Euro is now moving higher as it looks like a big bottom has been put in place. If this continues, expect the recent better action in oils and a little bit better in commodities to continue….