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To be repetitive on the sentiment front: Sentiment remains off the charts bullish. Markets remain verrry overbought as price is stretched and extended. BUT…as we have always told you, sentiment is not a pinpoint indicator. Very often, too bullish sentiment can stay on the high side for a while. So, watch price…and to this minute,…

SOURCE: https://www.nytimes.com/2017/10/19/world/middleeast/islamic-state-reconstruction.html

Forgot to mention bad overnight for the Hang Seng. So many China ADRs hit this morning with a couple of names actually breaking the 50 day this morning. This is overdue. Patience here. Let’s see where they take them to.

Woke up this morning, getting ready watching tv, saw two pundits say we are going to have a bull market for about another 10 years. Will let that rest with you. Futures down. No way! NDX futures worse than DOW/S&P. Don’t worry. Should be up by 11 am. (Sarcasm…maybe) Just to be repetitive…sentiment indicators have…

SOURCE:  http://www.espn.com/nfl/story/_/id/21056998/nfl-ratings-75-percent-week-6-2017-compared-2016

The big story this morning is IBM as it is up almost $10. IBM reported lower earnings and sales from the year before but BETTER THAN EXPECTED. Of course, IBM used about an 11% tax rate. But in the spirit of IT’S NOT THE NEWS, IT’S HOW MARKETS REACT TO THE NEWS, we take no…