Morning Comment: Tech Stocks at a KEY Technical Juncture


We’re heading into earnings season for the tech stocks…and it’s coming at a time that the sector stands at a key technical juncture. IBM reported better-than-expected numbers last night and it is trading 3% higher in the pre-market. However, IBM hasn’t been the bell-whether tech stock in decades. (Besides, it’s still almost 40% below its 2013 highs…and its high for the year had come during the first half…in 7 out of the past 8 years…so any near-term pop in the stock may have a tough time holding-up.)

However, we do get a more important name tonight…and this one comes from one of the FAANG stocks. NFLX reports tonight…and how it reacts to these numbers will be very important for the stock…and it could be quite important for the big-cap tech names overall. As we all know (with the exception of GOOGL), the FAANG names have been dead money since late last summer…but several of them are starting to show signs that they could finally regain some upside momentum. NFLX is one of those names…as it is testing the top end of the sideways range it has been in since July. Therefore, if tonight’s earnings report can be a catalyst for a sustained breakout of that range, it’s going to be very bullish for NFLX on a technical basis.

(We used the phrase “sustained breakout” in the last sentence because NFLX did breakout of its sideways range for a couple of days back in January. In fact, it was its earnings report that was the catalyst for that breakout. HOWEVER, the stock fell back into its range within two days…thus that quick breakout turned out to be a serious “head fake.” We obviously want to guard against that kind of move once again this time around.)

However, if it can indeed ...

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Morning Comment: Today is (almost) all about COIN and Bitcoin



We had yet another pretty uneventful day yesterday. Yes, the S&P rallied 13 points and the Nasdaq rose more than 1%, but they both had negative breadth and volume remained very low. (The composite volume was higher than Friday and ...

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Morning Comment: Energy ETF's Testing Key Support...Bitcoin Breaking Out.



We had yet another boring day in the stock market yesterday…as volume continues to come-in at/near the lows of the year….and the intraday range for the S&P 500 has been less than one-half of one percent on four of the ...

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Morning Comment: Financial stocks still look great on a longer-term basis


You can’t get a lot more boring than we got yesterday in the broad stock market….as the major averages finished the day pretty much unchanged on the lowest volume day of the year so far. This action (or non-action) is ...

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Morning Comment: ARKK....AMZN....Mary Jane Bush


  • Some profit taking in front of tomorrow's employment report?
  • $110 is the KEY support level for ARKK
  • Ditto for the $2,950 level on AMZN.
  • A tribute to Mary Jane Bush, Wall Street pioneer.


The stock futures are trading higher this ...

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Morning Comment: Small-caps, Biotechs testing KEY support levels


If history is any guide the market tends to rally at the end of the quarter…as institutional investors mark-up their favorite picks. Thus, with only two days left in the first quarter, maybe it should be no surprise that the ...

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Morning Comment: Several Overseas Markets Showing Some Cracks.


The Treasury market rallied very nicely yesterday, and this obviously led to a rather material drop in long-term interest rates. However, instead of that causing a nice bounce in the stock market, stocks got hit quite hard. In our minds, ...

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Morning Comment: Banks Ripe for a Short-term Pull-back.

In our weekend piece this past weekend, we highlighted that although we expect long-term rates to head higher over time, we also think that they are ripe for a pull-back over the short-term. We showed how the chart on the ...

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Morning Comment: WAKE UP, the FED has become more hawkish!



Despite the consensus narrative after the Fed announcement/press conference yesterday, we would argue that the one thing that everybody is missing is that the Fed keeps confirming lately that it has changed its policy...and has become more hawkish. ...

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Midday Comment: Nasdaq approaching the "neck-line" of an "H&S" pattern


This is a note I posted today late in the morning. If you would like to get posts like these on a more timely basis...as well as receive my daily comments and "The Weekly Top 10" piece, please join us ...

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Midday Comment: Nasdaq approaching the "neck-line" of an "H&S pattern


This is a note I posted today late in the morning. If you would like to get posts like these on a more timely basis...as well as receive my daily comments and "The Weekly Top 10" piece, please join us ...

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THE WEEKLY TOP 10


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THE WEEKLY TOP 10


Table of Contents: ...

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