Futures vs FV: SP -20.9; DJ -238.48; NASDAQ -60.56
Gee, when I said the selling could start Monday in the weekend report it was not a mandate. Today futures open sharply lower and stocks will as well as the futures gapped lower and have sold all morning.
JPM, AMZN, Berkshire announce a JV to bring down the cost of healthcare. Of course Buffett says the "group does not come with any answers . . . "
UNH, bombing lower on the news along with other healthcare stocks
AAPL: More stories of down X demand
Home prices: 6.41% gain highest since 2014
Mortgages: highest since may 2014 (4% to 4.5%
OTHER MARKETS
Bonds: 2.707% vs 2.72%
EUR/USD: 1.2494 vs 1.23826. Dollar selling continues.
Oil: 64.96, -0.60
Gold: 1349.30, +4.2
Okay, more selling, more distribution likely, meaning a correction of some sort is starting. We will see what kind of reflex action there is off the open and see what it can produce in exits.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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