Market Alert - Pre-Market

Futures vs FV: SP +3.9; DJ +42.84; NASDAQ +7.18

Very slow news morning and futures are edging higher, continuing last week's recovery.

Bitcoin futures are trading (BTX) and when everyone joined in, it was sold some first, but then rallied over 18K. Handled the first test.


Pipe bomb explodes prematurely at New York Port Authority train hub. Because it went off early, only the would-be murderer was injured. Luck was on our side.


FOMC meets this week and is anticipated to raise rates as promised.


Work on the tax bill continues. Read last night that some high earners could see their marginal rates exceed 100%. When that happens you get nonproductive tax avoidance. That will need correcting because in tax reform you want all money being used as it would be in the economy without tax considerations being the first concern.


Given there is little news and the FOMC is midweek, stocks are on their own a bit and they are modestly rising. Of course you watch SOX and chips as many rebounded last week but rebounded to serious resistance. An important test for them in the rebound.


Also a key test is for the large cap NASDAQ, up last week, paused Friday. Trading mostly flat pre-market with AMZN up a few points. Would not mind another 1-2 days of testing/pausing then continuing higher.


OTHER MARKETS
Bonds: 2.369% vs 2.378%

EUR/USD: 1.1782 vs 1.1764

USD/JPY: 113.39 vs 113.48

Oil: 57.45, +0.09

Gold: 1249.50, +1.10



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