• Comments for December 7, 2017

    Markets still looked negative yesterday as both the 20DMF and the Cumulative tick pointed down.



    The Futures' TEV patterns of the different equities futures are well below their respective averages, but prices seem to be bouncing off the lows.







    Tech stocks attracted money yesterday and we can see below that a reversal is now expected.






    Index investors are now speculating that the QQQ's will bounce off, but SPY investors are not that positive yet.





    Interesting to see below that income based instruments are sold, with the expectation that the Fed will raise rates soon.





    Oil is now under selling pressure. Not too good for energy stocks.



    On the the currencies front, we can detect some small divergences in the US$/Euro.



    The British Pound was sold yesterday just after I posted my positive comment on the currency, based on expectation of a soon to come Brexit deal... which is still the case, I believe.



    Conclusions:

    Today is the day that tech stocks will bounce hard. If they bounce on a weak Money Flow, this means that Friday and then next week probably will be down.