Home > Uncategorized > Friday Morning Joe. 19 May, 2016.

Friday Morning Joe. 19 May, 2016.

May 19, 2017

In America:

Screen Shot 2017-05-19 at 10.02.56 AM.png

Wednesday Trumpski fall looks like an irrational one-day knee-jerk reaction.

DJ +0.27%, SP500 +0.37%,  Nasdaq +0.73%, NYA +0.09%, Russell2000 +0.37%.

The Banks sub-index (BKX) was up in line with most of the market +0.37%.

SP500:

Screen Shot 2017-05-19 at 10.10.13 AM.png

Indicators remain on Sell Signals.  They can go lower.  Tomorrow is Op-Ex Day, usually a narrow range high-volume event.  So we might have to wait till next week.  Wait.

Commodities:

DBC -0.27%.  Energy +0.24%  Industrial Metals -0.57%.  Copper Producers ETF was down –0.2%.  Gold -0.82%.  Iron Ore -0.8%.

Those good commodity prices are unlikely to save our market today (except for the Gold Miners).  The Copper Producers ETF is a better guide to our miners for today.

America hasn’t been much of a leading indicator for Australia in recent days.  So I’ll ignore the above.

After 15 minutes of trade, XJO is down about -0.3%.  Last night I made a case for our market being at or near a low.  Watch for evidence of a rebound later today.

 

RB.

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