• Comments for August 2, 2017

    Overnight, AAPL published earnings that beat expectations.

    We can see below that this news was known about 30 minutes before the close.



    As a consequence, many ETFs attracted money in the final minutes of trading.







    On the Futures front, the NQ100, SP500 and Russell 2000 all show weakness. However, we have to see how they will move after AAPL's earnings.







    The 20DMF looked notably weaker than the Cumulative Tick, which showed strong indiscriminate accumulation.



    The NQ8 stocks still display a positive Money Flow.



    Materials were very weak yesterday as the steel sector was sold.





    Conclusions:

    This market is concentrating its firepower into eight very liquid tech related stocks.
    I still suspect that the focus will now move to the QE unwinding process.