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Wednesday’s Morning Look

Market Update:

Stock futures are lower ahead of Wednesday’s open as the market continues to flirt with record highs.

Gary’s Thoughts: Look at that…we are down at the open. We don’t have to tell you markets are just way overdue for sitting or pulling in…which would be normal and not a bad thing.

Economic Calendar:

  • MBA Mortgage Applications 7:00 AM ET
  • Redbook 8:55 AM ET
  • Existing Home Sales 10:00 AM ET
  • 2-Yr FRN Note Auction 11:30 AM ET
  • Jerome Powell Speaks 1:00 PM ET
  • 5-Yr Note Auction 1:00 PM ET
  • FOMC Minutes 2:00 PM ET

Highlights:

  • Russia’s U.N. envoy dies suddenly in New York
    Gary’s Thoughts: This one DOESNT look suspicious…we think!
  • Mark Cuban: Robots will ‘cause unemployment and we need to prepare for it’
    Gary’s Thoughts: Technology has been doing that job for a couple decades.

One Comment

  1. About the dead Ruskie:
    Them Russians drink too much, eat too much bad food, smoke; chug Vodka; and by middle age, they are living on borrowed time.

    They Clog up their hearts …
    The old ticker stops ticking….

    Average age of death for a Russian man is around 54 yrs.

    I saw a TV once, where the Russian TV NEWS was interviewing a Russian family, the TV guy asked, ” where is your dad?” They pointed to a drunken man, sleeping behind the wood stove…

    I like the Russians ok, nationally they are anti sematic….
    ……
    ……
    The markets, my two indicators are screaming pull back,
    I trust them.

    Butt; …we are near EOM ( end of month ) and the banks are soo close to the 50 day support, if we do pull back, I’d not expect much.

    Yoda is looking for a change, maybe first week in march, not really until then.

    March : Will we, won’t we break below the 50 day….. ?
    .
    .

    Ok, back to my ham and ice cream sandwich.
    I’ll chase it down, with a glass of milk, and a hard boiled egg.. maybe some shellfish..

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