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Friday, August 18, 2017

Market Alert - Pre-Market

Futures vs FV: SP -1.26; NASDAQ -11.27; NASDAQ +5.03

Stock futures are somewhat shrugging in a relief move after the Thursday thump. Last Friday stocks held their ground post-thumping, and then proceeded to move higher the next week. That is the history lesson.

This even as the craziness amplifies:

North Korea predicts 'catastrophe' after US/Japan war games to start Monday.

Elected official in MO calls for the President's assassination. What is that knock on the door? Hello? Oh, the Secret Service.

CNBC anchor opines as to why wouldn't stocks just rebound right back; all is wonderful, after all. Right?

Dennis Gartman: Could be the most important day for the market. It is important: will it hold as last Friday or will it end lower, coughing up this early bounce attempt, and closing at the lows of the week and then past weeks. That is a negative signal.

Beats: EL; GPS; ROST; AMAT does well.

Misses: FL (TL, BL -- TB); HIBB (TL); DE (TL)


OTHER MARKETS
Bonds 2.1775 vs 2.185. Continues rallying in uncertainty

USD/JPY: 108.89 vs 109.339

Oil: 47.24, +0.15

Gold 1302.90, +0.192


Okay, we see how the flat to -- now lower -- start holds. A rollover is market negative for next week. That seems obvious.

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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