My trusty right hand, Mike Welch, is on vacation this week – who the heck is in charge here anyway? I mean he had a vacation a few years ago and he wants another one now? Geeesh. Lol
I will be on CNBC’s Fast Money tonight at 5:20 to discuss our current macro and market views. As a result, there will be no closing comment today because I have to get to the studio in Times Square. Of course, if there is something significant by the close that needs to be discussed I will post something once I get home. Tomorrow should be pretty interesting as Fed Chair Powell gives his views on the economy to Capitol Hill. Anything short of being super dovish could create a bit of volatility.
The summary of our view is pretty simple – Don’t bet against the Fed, and don’t chase the huge gains in large cap Info Tech. We stand ready to put offense back on the field when our indicators call for it.
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