Futures made a lower low versus Friday, but are pressuring the top of the overnight range, which is bullish if it keeps up. Getting above 1783.75 in the futures could ignite a run in the cash S&P to 1801 at least, but perhaps higher.
The stop from Friday remains 1774.03. I'm holding half of the SSO bought Friday morning.
The Super Bowl certainly fit the "expect the unexpected" socionomic warning from September Vogue 2013. Still heeding that advice.
I saw a ton of overselling in the Super Bowl ads. The main offender was Maserati, which went from "I wish I wrote that" to "WTF" as soon as it became clear it was a car commercial.
From a broader perspective, overselling feels like a double entendre for the markets: are they oversold (hence ready to buy), or are companies overselling themselves (using financial engineering) because they can't back it up any other way?
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