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Except for not thrilling volume. no complaints here as market tries to improve off of its latest hold of longer-term support. We remain of the thought support will not break any time soon but don’t blink. A couple bad days could change that. Futures down just a wee bit and off the lows. Always find…

We repeat from Thursday’s action: Thursday was another classic reversal but not just any reversal. It happened again at the VITAL LONGER TERM SUPPORT AND 200 DAY MOVING AVERAGE.  Reversals like that usually lead to upside testing. We add from Friday’s action: Quiet morning action led to buyers finally showing up and short sellers covering….

After the close yesterday, we were convinced ANOTHER near-term low was put in on ANOTHER reversal at gargantuan, important longer-term support. We then added our usual recent worry about how far a reversal can move the market higher. After all, so many names and areas are not in very good technical shape. After all, volume…

Nice reversal yesterday but to us, less than meets the eye. Volume was light not indicative of a great washout but the good news is that longer term support continues to be just that, supported by the big money. But after scanning 2,000 names, not impressed. Will leave it at that for now. Of note:…

SOURCE: https://nypost.com/2018/05/03/another-reminder-that-smoking-absolutely-destroys-your-lungs/

Futures are down decently after an ugly reaction to the maniacal Fed. Remember, every time markets go lower, internals go south…and you do not want to see internals go south as indices are again heading towards vital long-term support. You know what we think can possibly happen if that occurs. Watch them FINANCIALS closely. They…