Newsletter

Strong open this morning after good reversal yesterday BUT: Markets were very oversold yesterday and pulled back into the longer term 200 day. Leadership…what leadership? Ok AAPL acts with good r/s. Not sure any rally/bounce lasts as the technical condition just not that great. Have a great weekend.  

The trees: Markets are very near term oversold. Almost 1,000 DOW points in less than 2 days will do the trick. A bounce can occur at any time. It will be random. It  could be on a gap or it could come out of nowhere in the middle of the day. The forest: Most everything…

Yesterday was gross. Today’s open gross. Before today, growth was bearish and half the market wasn’t happening. The other half now under pressure. Near term oversold but we must tell you, lots of charts potentially turning down. Keep in mind, for a good amount of time, every time markets looked to be in trouble, they…

A FEW NOTES: The NASDAQ and NDX are below the 50 day this second. Don’t blink. Futures are up but off highs. The administration backed off of the leak from Friday of restricted CHINA investments but now saying it was 50% fake…whatever that means. A few CHINA names like BABA gapping up a bit. You…