The Morning Look
Stock Market Overview:
Futures are up ahead of Wednesday’s open as stocks try to recover from Tuesday’s sell off.
Gary’s Thoughts: Saw this headline: “Yesterday’s laggards are today’s leaders! Of course, we haven’t even opened yet. Commodities ruling the day!
Economic Data:
- MBA Mortgage Applications 7 am EST
- Wholesale Trade Data 10 am EST
- EIA Petroleum Status Report 10:30 am EST
Highlights Of The Day:
- China’s Exports Plunge 24.5% year over year
Gary’s Thoughts: Yup! All’s well! - Shares of Solar City (SCTY) spiked after the company announced a deal to install solar panels in Whole Foods Markets ($WFM) across the U.S.
Gary’s Thoughts: That’s the reason?
What is boils right down to is this: The market is waiting…….. on it’s next feeding. That feeding will/will not come from The ECB tomorrow. If ECB says print, the market will rally. If they say not, the market; might fall.
Fact is, we have ECB tomorrow, Fed next week, after end of quarter.
We are above the 50 day, and it is turning up !
There is just about no way the market can have much of a pull back, ….until April, then it’s to the rising 50 day support.
After this End of Quarter ( EOQ) we head into summer, and elections. My bet is we have seen the bottom for year 016, and there will be no major pull back until 017..
And by 017, I’d bet the fed will be back to printing again.