Happy Veterans Day to you. Make sure to take time today and remember the HUGE sacrifices that have been made and are currently being made by our soldiers in harm’s way. The freedoms we enjoy today definitely wouldn’t be the same with the brave men and women who have served on our behalf.
Now on to the daily report here…US Futures are way up this morning with the Dow up 70 points, the NASDAQ up 13 points and the S&P up 8 points. Overnight, the Asian markets were up about 1.5% (except for the Nikkei), while European markets are trading with gains in excess of 1%.
There aren’t any economic reports being issued out today due to it being Veterans Day.
I am honestly at a loss for words at this market. The euphoria surrounding it, is something I haven’t seen since the 90’s when anyone and everyone was buying stocks that had anything to do with the “.com’s”. This market is undoubtedly being propped up by the government and the endless supply of money it keeps printing. In this market, the only strategy appears to be: “Buy Everything”. Technical and fundamental analysis are out the window. I’m not going to keep rambling but this market is just unbelievable in how it keeps soaring higher and higher!
Here are Today’s Trade Setups…
Bullish Candle Setups: ACMR
Bearish Candle Setups: BFLY
Stocks Ready to Bounce: CROX, ANDE
Stocks Ready to Pullback: NC, ASEI, WHI, GSH,
Breakout Stocks: AXE, BIO, ABC, RGC, HEW, SFD,
Breakdown Stocks: MBI, AHR, LKFN, WNR, FUN, FRM,