MARKET WRAP

Crappy finish. Past 3 days may be showing the near-term wall from the recent crash lows rally. Thinking we go into some sort of pull back but don’t think much chance of breaking recent lows. More of a chance that we go range-bound for a bit with past 3 days a high.

BIG PICTURE…REMAINS GROSS AS EVERYTHING TRADES BELOW LONGER-TERM MOVING AVERAGES.

Lastly, be careful of big dividends. Seeing people excited that some names paying double digits. There is usually a reason and already seeing some dividend cuts.