A low-volume roller-coaster best describes Wednesday’s continuation rally; as limited liquidity continues to spark alternating moves as the video outlines.
There are many factors involved in the news backdrop; and tonight if you allow; I’m going to do minimal text, as ‘both’ videos cover the Fed; the Oil ‘freeze’ talk that started from Venezuela; and the late news that the conservative oligarchs of the U.S., the Koch brothers, won’t attempt to fund blocking Trump becoming the Republican candidate, which is going to hobble efforts by his opponents.
On Thursday I’ll spend much of the day at Disney World; this year’s appropriate Florida Money Show gathering at the Contemporary Hotel. I’m just visiting guys and gals I know in the securities industry, and I don’t give seminars or anything at such conferences these days. If you happen to attend and would like to say hi; stop by the Bull & Bear booth, and they’ll know if (or when) I’m around. (I’ll do intraday comments by laptop, so might be away seeking a strong signal.)
I’ve promised to focus more on video than text, and tonight is one of the first of the Daily Briefing reports I actually do that; as I think should be sufficient. (Only so many hours in a day; so tomorrow will likely also be abbreviated text.) Our market expectations remain for the S&P to push-into resistance; but using care as it really can exhaust this move, not with a huge turnaround, but at least start a short-term pullback, almost at any time and price level just overhead.
Last hour (intraday) MarketCast
Leave A Comment