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The Morning Look

Market Update:

Stock futures are a little higher ahead  of Tuesday’s open as the market pauses to digest a strong post election rally. Looking forward, the highlights for this week are: GDP, OPEC’s next meeting, End of Month, and the always fun (and fake) jobs report.

Gary’s Thoughts: OILS smoked on weakening oil prices. Someone in OPEC blinks again. Other than that, market needs to rest/pull back from the election rip to the upside. Doesn’t mean it has to.

Economic Calendar:

  • GDP 8:30 AM ET
  • Corporate Profits 8:30 AM ET
  • Redbook Bullet 8:55 AM ET
  • S&P Corelogic Case-Shiller HPI 9:00 AM ET
  • William Dudley Speaks 9:15 AM ET
  • Consumer Confidence 10:00 AM ET
  • State Street Investor Confidence Index 10:00 AM ET
  •  4-Week Bill Auction 11:30 AM ET

Highlights:

  • Elizabeth Warren slams Wells Fargo over arbitration position
    Gary’s Thoughts: Doesn’t she complain about everything? The fact is Wells should pay a price…which they have already.
  • AT&T Targets Cord-Cutters With DirecTV Now Web Video Service
    Gary’s Thoughts: More of this to come. People realizing why pay for 200 channels if they only watch a few channels.

3 Comments

  1. Gary:

    Apparently there are jitters over the Italian election next weekend. Depending on how it goes, some see the Italian banking system in big trouble with a ripple effect through Europe.
    What do you think? Thanks!

  2. It’s the dollar.

    Will it complete another leg up to complete the pattern ?
    Or…
    Will the dollar pull back, just before the fed raises interest rates ?..??
    Will the dollar hold here, waiting on the fed ?
    Will the dollar rally on the fed, to another high, or will it pull back from over bought condition?

    Will the market follow the dollar up like it has been ? Over bought, to more over bought ????
    Or….
    Will the market pull back from over bought condition ?

    Even my two secret indicators are confused.
    Both are setting up, signaling a market pull back, but the important one, is saying we could easily rally.

    The log, and the short:
    Yoda has no idea where the market will go from here, and neither does the force..

  3. The market is setting up for a fine short.
    Sadly, so is the dollar.

    Q: Will a falling dollar hold up the extended market.
    A: Dunno…

    Dam ! Yoda is in a funk..

Comments are closed.