• Netflix (NFLX) reported better numbers last night, but we believe the much better-than-expected news out of ASML is having the bigger impact on the futures this morning.
  • The breakout in the chip stocks is very bullish.  However, the tech-laden NDX Nasdaq 100 is getting overbought on a technical basis…and Treasury yields are signaling an important change in trend (to the upside).  In fact, a divergence has developed between the bond and stock market that could/should create at least some headwinds for stocks before too long.
  • Remembering the master of both the written and spoken word:  Charles Osgood.
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