This is the closing to one of my favorite movies ever, Broadway Danny Rose. A lovely scene of forgiveness:
THE BARE FACTS:
- Last night’s joint US/British/French military operation in Syria is over and no amount of arguments for/against it will change that fact.
- Prior to that and as at Friday’s close, the US Major Indices were still mired inside their respective consolidation zones near their 50-day MA, as shown on the following 1-year and 2-month daily charts.
SO, HOW WILL MARKETS REACT?
In the short term, watch for any 20 MA crossover (and hold) above the 50 MA on any market rally next week and beyond, as one signal of potential sustainable equity strength in the weeks ahead. (more…)
Here are the dozen stocks in the retail sector which in which I have active short positions; hopefully the simple markups I’ve done will speak for themselves: