kaltbaum premarket

Futures are flat as I write this.

 

Market is now in no man’s land. A place where the uptrend is in jeopardy but not in a downtrend. A place where there is very little in the way of buy points…but one cannot keep their eye off the ball because with this fed, nothing is off the table.

 

So we sit here and see how this shakes. We will get more clarity through earnings season. This morning, a COST gaps up but an AVT gaps down…so there will be a lot of that jello moving on the plate.

 

Do not overtrade here. This service has made good profits since recent low without trading too much…and without playing everything in sight.

 

Do not fall the bear case where the bears come out of hibernation on every down day. The fact is market is under pressure. The NASDAQ and NDX are below the 50 day…thank you AAPL…but it is not just AAPL. TRANSPORTS remain a lagging area and the SEMIS are dead right now. If other major indices break the 10 week/50 day, then we have a case of a bearish phase more than just a nasty pullback.