Chip botox straight ahead and we start with the rorschach test. Which did you see today . The dow closing at its highest level since march 10th and vaccine hopes with stills and stocks closing near session lows and the relationship 500 failing to hold its 200day moving average or guy adami, how do you interpret the ink blot being that i cant see it, is that the guy from welcome back cotter, mel or no, that rorschach test guy i think were having problems with guys audio tim seymour, well go to you on this which ink blot did you see today . I actually heard guy and he made a bad joke of welcome back to cotter. It was closing near march highs and i think we have a case where the reopening has allowed people to look at industrial and call them value stocks, but the ones that were the most beaten up and to begin to assess what schedules are going to look like for airlines out through kind of early to midsummer. We have no idea, but we also have some sense that the worst case has been largel
Manufacturing actually picked up, but only two manufacturers say that sales dropped because of the coronavirus. One retailer said that inventory was hurt because of production issues in china. You look to the San Francisco fed district where the virus is largely been rampant in this country in seattle. I should say the hardesthit area in this country. Theyre dealing with a drop in airline travel. A drop in demand for aircraft from Southeast Asia and difficulty getting parts for solar manufacturers. So not a lot of pain in that district either. Ii want to stress that overall Manufacturing Activity continued to expand across the country and Consumer Spending which has been the lynchpin of this economy actually picked up last month. Now lastly i just want to note that one other concern of companies aside from the coronavirus is actually the president ial election. Now the Federal Reserve will use the information in two weeks when they formally meet for a policy meeting and determine wheth
Pattern for the next big moves for stocks given i base my work hundreds of charts i match them with the patterns on fundamental factors on the ive learned over time and go over the Research Available for companies i study and not the the most winning and they often become segments on the show you charts, the off the charts is see later in the week. Why do the charts work to my stockpicking methods but i know from feedback at jim people always want to know cramer on twitter that youre first you must consider them as interested in this analysis and if they are footprints at the importantly it is proven time scene of the crime and time again to get a lot of people involved at the right they trace out what big Money Managers might do with buying level, say and selling of dollarse portfol now not for a minute as i explain in get rich know more than others including you and mef where their money goes, the charts of the stocks, put together clues that the big boys leave second reason to care,
All that and so much more, on making money. The market tip uses its record setting ways this rally this week to continue to roll on nasdac actually giving some back but thats the focal point because the momentum has been absolutely remarkable, cracking 9,000 for the first time ever, and by the way, this is right now, well see how it closes its the longest winning streak for the nasdac compass composite in many years and on that note i want to bring in 34 years matter of fact people are saying could this be november 1999 or march of 2000 because many wonder what could take this index and the overall market higher here to answer those questions, Wealth Management cio, fox business contributor scott martin so let me lay it out for the folks so we know what were talking about here. The milestones for the nasdac, it took three years ago from 1,000 to 2,000 and it only took one year to go from 2,000 to 3,000 one month to go from 3,000 to 4,000 just four months ago from 4,000 to 5,000 and gue
College players to make money. A former player tells players be careful what you wish for even though making money off your efforts is part of the american dream. All that and more on making money. So the markets erasing a pretty nice gain at start of trading. Ism came in, ism manufacturing numbers came in lower than expected. Factory activity falling to 47. 8. Just know that in september, that is the low evident reading since june of 2009. It marks the second straight month of contraction in the manufacturing sector. President trump responding with a tweet, calling out the fed yet again, this time calling them quote, pathetic. I will bring in jack ablin, crescent Wealth Management and David Bahnsen. Jack, start with you. Nevertheless we started up sharply, almost every component of the report in contraction. What do you make of it . It was disappointing. I do think investors were looking for slight weakness in manufacturing. Saw hiring trailing expectations. But to have a number stead