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Hey you technicians, just letting you know big DOW leader Boeing (BA) just broke the 50 day average cleanly for first time in 15 months. Doesn’t mean the end of the world but the longer something holds that important area and then breaks, it is often of consequence. Of course, anything is possible and the…

Nothing like an ugly sell day followed by futures that were down last night…followed by another reversal with a nice gap to the upside this morning. Ping pong. We suspect there will be more of the back and forth but all expect to find areas to exploit. Hopefully! We do not like gaps to the…

SOURCE: https://www.zerohedge.com/news/2018-03-13/new-jersey-prepares-raise-taxes-almost-everything-it-nears-financial-disaster

Well that was not nice. But not much changed. More than half the market remains bearish. The less than half that has been leading, especially NASDAQ/NDX/SEMIS/GROWTH all pulled in. Blame was said to be on the administration that blocked the AVGO for QCOM deal…but we could care less. Those areas pulled in. That’s all. Just…

Looks like and “feeling” like the stretched, extended and “overboughtness” of the NASDAQ/NDX/SEMIS and all that stuff showing up a bit today as many names strong early and now red…does not mean trouble. Just recognize how extended things are in these areas…with stalling and pullback potential in the near-term.

Futures up nicely. SEMIS, TECH, INTERNET, NASDAQ, NDX, BETA, GROWTH. FINANCIALS in shape…just a lot slower than beta. Extended, stretched, overbought in these areas but overbought can get more overbought. DOW was down yesterday…BA, CAT no help. Remember, BA has HAD a monstrous move. Contributed a ton to the DOW. Not sure we need to…

When you get past all the wild action, our themes have pretty much remained the same and that is: February 9th was not only A low but was THE low that will not be taken out any time soon. And now with the strong action of the past week, we highly doubt we break the…