Before the Open

The action in the broad stock market yesterday…after such fabulous earnings/guidance out of Nvidia…was very disappointing.  The “internals” from yesterday…and some other technical developments…are pointing to the possibility of a reversal in the stock market before too long.

The 10 for 1 stock split for NVDA could/should attract more individual investors for the stock, but it should also do the same for its options.  That could be bullish near-term, BUT it could also create more volatility when the stock sees any (inevitable) corrections in the future.

No matter how you feel about what is going on in our country today, we hope you will consider flying the American flag this weekend.  Doing so merely honors those who have given “the last full measure of devotion” to their country…….Our flag will be flying all weekend.

Actually, Ethereum and wheat have almost nothing in common, but their moves over the coming weeks could still be very important...on several fronts.

No asset moves in a straight line...no matter how good or bad its prospects might be. Copper is now at the kind of overbought level that if frequently followed by material pullbacks.