The Morning Look
Stock Market Overview:
Stock futures are down a little on Monday as the world digest’s last Friday’s very strong rally. Stocks bounced sharply over the last two weeks from deeply oversold levels. Gary called the low perfectly for you on Wednesday, Jan 20, 2016.
Gary’s Thoughts: Due to travel, we will have our weekend report tonight. The short version is Fridayu’s action confirmed the recent low we nailed for you on January 20. We will have thoughts and a lesson on that day for you tonight. Keep in mind, we are still in a bear market. This is not a new bull market. This is just a bear market rally to relieve the stretched, extended and oversold conditions. That does not mean you cannot put points on the score board on the long side. You just have to tip toe a little bit more.
Ecoomic Data:
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Chicago Fed National Activity Index 8:30 AM ET
- PMI Manufacturing Index Flash 9:45 AM ET
Highlights Of The Day:
- Swiss Probe of Malaysia Fund Sees $4 Billion Possible Misuse
Gary’s Thoughts: Ooops! - Marco Rubio Plans to Finish Third Place in Iowa
Gary’s Thoughts: Watch Rubio!
- Facebook Is Banning Private Gun Sales on Its Social Network
Gary’s Thoughts: No comment! - Chargers Owner Commits to NFL Team’s Next Season in San Diego
Gary’s Thoughts: We cannot believe there is a chance San Diego may not have a team in the future.