THE OPEN

Market indeed gaps up. Bear market turns into bull market in less than a week off of a major change by the fed and not so major change with China trade.

Normally, we could care less about the news but when the fed is involved, it is more than material.

MARKETS ARE NOW RIDICULOUSLY STRETCHED, EXTENDED AND OVERBOUGHT ON ANOTHER NEWS GAP. We gather many or most believe a pullback has to happen. We are not so sure as we are in December. We do suspect we are going to back and fill just because we are now in the midst of massive overhead resistance…but to be clear, market has already blown through resistance.

More to come. Going to be an interesting day, to say the least.