PRE MARKET NOTES

Futures up off of yesterday’s move.

It actually looked like the Fed lowered rates yesterday as the dollar tanked lifting commodities and the like.

Big picture…market continues to not be able to drop even 2% on corrections. Major indices do not even want to visit the 50 day moving average…as they hold the shorter term 21 day indicating great strength. The good news yesterday is that the worst areas got bid up. When the worst areas put in a low, it is good news for markets. That includes all the commodity areas we have been telling you to avoid recently as they went lower. Even oils rallied but to our eye, nothing to do there just yet.

As we stated on radio yesterday…yes, valuations are out there…but more important you pay attention to the action…which is speaking loudly and clearly.

Recent emerging areas in housing and biotech continue to do well with biotech about to break above big range.

Only are really under-performing yesterday was the financials as rates came down…but not seeing any issues just yet in the area.