The Morning Look

Stock Market Overview: 

Futures are up nicely before Friday’s open after Thursday’s wild post ECB action. The ECB threw the kitchen sink, the drapes, the furniture, the pool, the acreage and everything else under the sun but stocks still sold off then ended flat in the US. Next week we have the Bank of Japan and the U.S. Federal Reserve so the Central Bank madness is not over. Gary has told you time and time again, the Markets will have the final word!

Gary’s Thoughts: Bottom line: take away these morons at central banks, take away the pundits, take away the noise and just look at the markets. For starters, and to repeat, it looks to us that all the areas that led down for 18 months…are now leading up. They all have bullish (for now) chart patterns off their lows and set up well. To repeat, energy, oil & gas, steel, copper, aluminum, commodities, commodity countries, metals/mining all working. As far as yesterday, that is the outcome of GRMs…(Government Run Markets) As of this writing, our market is back to the highs of yesterday on a (as Trump would say) huuuuge gap to the upside. Major indices have a chance to edge above a near term high here. Central banks just went deeper into their conjuring up of money, debt, deficits. This has been their moderus operandi since Bernanke stated this farce. Markets go down…print. They go up. They go down again…print more. Markets go up. Markets go down again. Print more…and so on. Where she stops? We once posed the question…why not just print $100 trillion? Is there really a difference when you are at these numbers? In case you don’t know…they are up to $20 trillion…and that’s on top of 0%, negative rates and the buying up of markets.

Economic Data:

• Import and Export Prices 8:30 AM ETBaker-Hughes Rig Count 1:00 PM ET

Highlights Of The Day:

• Apple Announces March 21 Event to Debut Updated Smaller iPhone
  Gary’s Thoughts: Let’s get this straight. They come out with a larger Iphone and now they come out with a smaller Iphone? Suckers!