- The Dow Jones opened higher, but ended up trading flat for most of the day. GE didn't help and Boeing was marginally better. The good news was the news that Germany is going to eliminate import tariffs on automobiles. This appears to be a good sign for the markets and I would expect that we will get more good news on Thursday that will spur the markets higher.
- I don't know that the Nasdaq has much room to go higher as Amazon, Netflix, Facebook and finally Alphabet (GOOGL) hit new highs on Wednesday in the noon hour. It was around the same time that President Trump was speaking about the illegal immigrants. Unfortunately the FANG stocks are so high that they may hit another peak in the morning before falling hard when there is a rotation out of them into the big industrial names like Boeing and Caterpillar.
- Alphabet already started selling off after 1pm. Tesla continued its run higher throughout the day. It actually looked straight up from 2:30pm through 3pm.
- Home Depot went down, then up, then back down again. It appears to be bouncing off the 198 level and I believe it will do it's regular Thursday afternoon through Friday morning run up. I will look for a draw down a little further after a spike higher in the morning. That will be the Call option buying opportunity on Thursday to sell around 10am on Friday.
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