Morning Market Look & The “No Taper” Rally Has Been Retraced

 

lettuce 300x225 Morning Market Look & The No Taper Rally Has Been Retraced

Futures are flat while crude and gold are down this morning. On the heals of Wells Fargo’s mortgage layoffs a couple of weeks ago, Citigrioup ($C) just fired one thousand workers in its mortgage area due to lack of demand. Today Lennar ($LEN) and KB Homes ( $KBH)  report their earnings.

The U.S. Dollar is in breakdown mode again.  It  is now breaking uptrend support, and it 50 day moving average crossed down below its 200 day moving average.

The financials have been weak and $JPM continues to get sued by the government.

Looks like Blackberry ($BBRY) got a sympathy bid yesterday. Please make this story go away. Enough.

Applied Materials ($AMAT) and Tokyo Electron will merge.

All of the no-tapering FED rally has been completely retraced now, and things are getting interesting.

Have a great day.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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  • Joe Donohue

    Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »

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