Tuesday, August 12, 2014

Status Quo.......9.12.14

The bullish surge continued out of the gate but then turned negative for the remainder of the day.
Poor economic reports on the European front were allegedly the cause of the swoon but the future of the previous 2 day rally is now in doubt.
Eyes will be on earnings for M, WMT and JCP retail benchmarks tomorrow and Thursday.
Bad reports may cause a red tide of selling in an already weak sector.
M3 is still in cash per today's closing report.