Sunday, July 27, 2014

More Bad News Dives Markets....7.27.14

We may have reached a critical mass with all the bad geopolitical news driving the markets down the perennial wall of worry.  Evacuation of the Libyan Embassy, rising death toll on the Israeli/Hamas front,
planes falling out the sky left and right and the slow realization that the European community isn't going to do anything to Putin in fears that their natural gas supplies will be cut off. Coupled with massive storms that continue to swirl around the US reeking havoc and destruction some of those end of the world street preachers are starting to pick up a following.
Meanwhile the markets are still optimistic based on the latest earnings reports with a few glaring exceptions like Amazon and we are fast approaching the end of the month and....possibly...a rally off declining support levels.  For now M3 likes cash and the dashboard for Monday is cautious to bearish.