The Morning Look
Market Update:
Stock futures are lower ahead of Thursday’s open after China said exports plunged by 10% which bodes poorly for the global economy.
Gary’s Thoughts: Futures smacked. Watch those support levels we gave out to you. Internals deteriorating. Not kidding. Fedheads again saying they are ready to hike…and I will dunk a basketball today.
Economic Calendar:
- 52-Week Bill Settlement
- Jobless Claims 8:30 AM ET
- Import and Export Prices 8:30 AM ET
- Bloomberg Consumer Comfort Index 9:45 AM ET
- EIA Natural Gas Report 10:30 AM ET
- EIA Petroleum Status Report 11:00 AM ET
- Patrick Harker Speaks 12:15 PM ET
- 30-Yr Bond Auction 1:00 PM ET
- Treasury Budget 2:00 PM ET
- Fed Balance Sheet 4:30 PM ET
- Money Supply 4:30 PM ET
- Neel Kashkari Speaks 9:00 PM ET
Highlights:
- Wells Fargo CEO resigned after scandal
Gary’s Thoughts: We predicted it two weeks ago on tv. Right thing to do. - SEC: Deutsche Bank to Pay $9.5M for Failure to Safeguard Info
Gary’s Thoughts: Small change considering what is next!
My god the SPY just broke below major support !
Yawn, I’m not shorting it.
The fundamentals say short it.
The technicals say short it.
Rumors of rising interest rates say …..short it !
Butt…. we have “Jew Boy”,, (Stanley Fisher), …..shadow chair of the fed, …..and I know, that at any moment, ….Stanley is going to crap a load money poop into his pants, and shit the market right back up !
Jew poo., Jew poo, Jew poo,….. Poo makes the market go up. Poo makes the world go round, and Stanley Fisher has buckets of it…