Market Alert - To the Close

Trading around the flat line on NYSE indices while NASDAQ pushes higher, back at the top of its range.

The FOMC minutes talked of a September hike as a done deal, but the committee also talked of the weakening housing market and the increase in the trade war issues as economic headwinds. Of course, the FOMC also one time talked about the yield curve and its importance, but it is not going to do more than talk about it.

The Brazilian real continues to struggle, indeed tank. Turkey is a head fake. Brazil's currency could be the real contagion indicator.

Outside of that, the usual, e.g. Trump denying knowledge of the payoffs until after the fact, etc. Still a very clear lack of clarity on just what happened. Cohen's clown attorney (do two clown's make a right?) keeps spluttering on any news outlet that will put him on. Makes for entertainment.

We are looking at BCRX and HLF as entries though HLF trade is low. COUP has micro volume and option spreads way too wide.

AMZN looks interesting upside, NFLX has moved up to the 20 day MA but is stopping there for now; that is a real resistance point.

SP500 -0.75%, -0.03%
NADSAQ 30.54, 0.39%
DJ30 -82.54, -0.32%
SP400 FLAT
RUTX 0.29%
SOX 0.46%

Dow stocks, industrials and the like, were lower early but have staged pretty solid recoveries.
______________________________________
Jon Johnson, Chief Market Strategist
InvestmentHouse.com

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