The Morning Look
Market Update:
Stock futures are lower ahead of Friday’s open as the market continues to digest the recent and strong rally.
Gary’s Thoughts: Every down open has been bought up. Remember what we said at the close yesterday. Our usual award winning technical report will be out on the weekend.
Economic Data:
- Consumer Sentiment 10:00 AM ET
- Baker-Hughes Rig Count 1:00 PM ET
- Treasury Budget 2:00 PM ET
Highlights:
- Tesla Brings Back Smaller-Battery Model S at Lower Price
Gary’s Thoughts: Tesla lost $250 million last year. Make money! - Sanders said he’s going to work hard to keep Trump out of office
Gary’s Thoughts: Hey Bernie…Venezuela is calling!
Dollar rally to the 50 day. We hit it.
Q. Will we rally thru, or bounce back down ?
A.The 50 day is falling, so the bet should be a bounce back down.
That bounce down … should rally the market to re test the top. ( A break up of major indexes off the present 50 day support. )
Then what,, after/if we break up here ?
I dunno…..
The major indexes; if they hold the 50 day, then we could easily have seen the bottom, and we could break out to new highs.
Or….
Those major indexes could begin to break down thru the 50 day at which time we begin a decline down,,,Er ,, aah, that is, until the fed reaches down and grabs the market, by shitting out a huge bucket of shekels and which they use to run the market back up.