Market Alert - Pre-Market

Futures vs FV: SP -5.44; DJ -36.21; NASDAQ -17.60

Just no new move for the new quarter. Monday was sluggish but showed rebounds off support. Tuesday is going to again test that support at the open as investors find no reasons to buy at the open and new money is not showing up just yet.

Healthcare: Word is there could be a new vote by Friday before the spring recess after the 'golf summit' between Trump and Senator Paul. The VP presented the outline to a changed H/C bill and the moderates liked it while the Freedom Caucus was 'intrigued' and did not reject out of hand. Supposedly a revised bill will be in hand in less than 24 hours.


Business: Trump meeting with a new group of CEO's.


Trade Deficit, Feb: -43.6B, lowest since October and less than expected.

Imports -1.8%, exports +0.2%. The only meaning I typically take from this report is the imports. Generally, when the US imports more it means the consumer is feeling good and spending on foreign as well as domestic goods.


EU Retail Sales: 0.7% vs 0.5% exp vs 0.1% Jan. +1.8% year/year vs 1.5% prior


Politics: Susan Rice, Obama's National Security Advisor, was unmasked as the un-masker of the Trump staff and nominees both pre- and post-election. Good grief.


OTHER MARKETS
Bonds: 2.332% vs 2.35%. Bonds in the US and EU continue rallying, not the best economic signal.

EUR/USD: 1.0655 vs 1.0669

USD/JPY: 110.48 vs 110.697

Oil: 50.50, +0.26

Gold: 1258.30, +4.30


Futures are off the lows moving up toward the open, but there will nonetheless be a weaker open. The indices are in a fairly narrow range not doing much of anything but trading up and down. NASDAQ at the top of the range as is SOX. SP500, DJ30 holding support and in position to bounce. RUTX, SP400 just trying to hang on. Still very good leadership patterns.

So, we see if the bids return once more after a softer open. Hey, the market tried an upside move Monday and that didn't take, so a softer open gives the bids a chance to return.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
______________________________________
Alert Key
http://www.investmenthouse.com/alertkey.htm

PLEASE DO NOT REPLY TO THIS EMAIL. USE THE CONTACT US PAGE ON OUR WEBSITE.

Customer Support: http://investmenthouse.com/contact_us.php