Markets around the World seemed to ignore the headlines out of fed Chairman about stretched valuations in high growth Areas. Europe having its first solid session in weeks and will be interesting to see if it puts this region back on track. Asia data was decent and continues to act somewhat well. The FXI has been trending well since its igniting gap back on 5/12. Our markets became a little loose and wide as Yellen tried a Greenspan moment but didnt fall apart. SPX opened higher then reversed to the downside giving small RDRs or sell signals at 1979 before falling as low as 1965 causing numerous sectors to close gaps from Monday trade. In the afternoon just like weve seen many times markets re-grouped and took it in stride. (Least we have two-way action). SPX futures up 5-6 handles. See if gap holds and how markets deal with 1982-1985 the 2014 highs if we see it. Read More: t3live/articles/market-analysis/4969-aapl-fb-and-bbry-in-the-morning-call-express-july-16th-2014.html
Posted on: Wed, 16 Jul 2014 12:40:17 +0000
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