• The tech stocks’ reaction to earnings…and the Treasury market’s reaction to the Fed…will be the most important catalysts this week.  However, we also want to keep a close eye on the bank ETFs…which are very close to key resistance levels.  If (repeat, IF) they can break above these resistance levels, the momentum it produces could/should lead to another nice rally leg for this group.  So, don’t focus solely on the tech stocks and the Treasury market this week.
  • With this morning’s further advance, the bounce in Tesla (TSLA) since we highlighted its extremely oversold condition last week has been a very nice +7%!
  • It’s amazing how people like to can convince themselves that it’s different this time…when it never is.  (The problem is that they usually convince themselves it’s different…by convincing themselves that it’s not different.)  With this in mind, raise at least a little bit of cash is a good idea right now.


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