PRE MARKET

Will have a couple reports over the weekend…one on the market and one on the state of the world.

After yesterday’s yuck, futures bouncing a wee bit.

From yesterday’s radio show:

RUSSELL 2000 clearly breaks below the longer term 200 day moving average.

TRANSPORTS are just below.

We have been telling you to avoid these areas.

OILS go deeper into the abyss.

INDUSTRIALS crack the 50 day. (XLI)

HEALTHCARE cracks the 50 day. (XLV)

REGIONAL BANKS go deeper into the ugly. (KRE)

BIG BANKS a smidge beloe the 50 day and toppy! (XLF)

The NYSE, NASDAQ, S&P below the 50 with the NDX just below.

NEW LOWS tripled NEW HIGHS.

Call it a 40-60 market now as more deterioration occurs.

But don’t worry, the ECB comes up with another excuse to continue printing 1 trillion/year and keeping rates negative. This time…the Euro will get too strong if they back away. Ladies and gents…easy money forever unless the market bites back at the easy money.

GOLD and GOLD STOCKS have the fear bid for now.

Pre market: DE, FL, HIBB getting smacked. FL and HIBB have been imploding…with most retail.

AMAT strong numbers gapping up. ROST, GPS, EL also up.

Lastly, we love Barcelona. Barcelona is one of our favorite cities. We have been on Las Ramblas quite a few times. We are thinking of you today.