kaltbaum midday

Well…I told you so. Sometimes, I get a feel that market is entering a whipsaw period where upside is not much but downside is not much. As I told you, I think last week’s lows will hold for now…and today’s action, so far, may be putting the stamp on that. The “potential” good news is the market is now setting up in a spastic handle…where the market can break out above it for higher prices. Of course, the market will need the semis and financials to help and that is what is happening today. I suspect we see more of this…not less. As far as a potential follow through day…yes….we can possibly get one today…but would need bigger volume than yesterday and a much bigger move.

Notes:

Foreign etfs like FXI,EEM,EWZ holding recent lows. A big up day would help. Of course, another break below and good night.

RUSSELL 2000 really underperforming today.

KORS reports…up almost $5…now up less than $1. Look where it was sold…right at the 50 day.

Fortunately, regardless of the bump in the market, RL is near low of the day. Pure luck as of this second. BHI short in a lazy bounce and DLTR long sstill acting fine.

Some names off leaders list setting up well.