Art Cashin gave a explanation of what happened post FOMC last night. Stock Market Plays Vertical Pong Until FOMC Drops A Safe On It – Buoyed by Apple’s stunning world record corporate revenues, stocks roared out of the box on the opening bell. Then, instantly, stocks began to diverge. The Nasdaq eased back from the […]
Visa makes up 9% of Dow. The chart is at make-or-break. I am oddly betting on a breakout.
The Perfect Storm Shows Up Indoors On Wall Street – As traders monitored the expected Blizzard named Juno, the above noted concerns stormed into Wall Street. The Dow opened down over 250 points as trapdoors opened under a score of blue chips. Meanwhile, yields on treasuries plummeted on the stunning drop in Durable Goods and […]
Gold and commodities The Gold market is at a very important juncture. Is the 100$ move north in January the start of a new impulsive wave or merely a corrective wave preceding further downside. At present the daily view shows a Gartley in process and from that we should see a selloff to at least […]
Art Cashin is sort of my hero on CNBC. I got his comment for today: On this day in 1955, the police were called to the five story, Fifth Avenue, mansion of Serge Rubenstein. There they found the corpse of the controversial 46 year-old “Financier.” He had been strangled with a curtain cord. Rubenstein embodied […]