THE CLOSE

Almost midnight here in Berlin…a fascinating place. Will write about it in my retro diary later this week.

We remain worried about the financials. Another day of not acting well. In fact, we do not think it takes much to break them down from another level. If this occurs, it will not be good for amarket where internals have been heading south. Earnings start Thursday for the group so we are paying attention.

Not thrilled another day where market was strong, only to watch it sell back down. Too much of that is not good. Trick of the trade, last hour action is important and lately, last hour action has been like watching the Knicks…so another thing to watch.

Let’s also now watch the Sox and its 50 day average at 984. You get the hint. The semis have come a long way and have seen no vulnerability.

If financials break again, expect the 50 day average to give way for the Dow and S&P. Whether r not it affects the narrrowing list of leadership is another story as a few glamour names had another good day today. Names like Amzn, Tsla, Pcln and others come to mind.

Lastly, so far, market not giving a crap about saber rattling but gather if things worsen, there will come that point. It is good to see a bunch of countries now coming front and center out against Russia for backing a murdering #@%#@.  Let’s hope this pressure changes the playing field.