Last night i told you that whenever we have an intraday rebound from a big decline based on pretty much nothing, as what happened yesterday around 1 40 to 1 43 p. M. Then you could have a chance for a real run the next day. Ive staked my career on being able to spot bottoms and tops. And that intraday pivot often signals a real sea change in the market. Sure enough after a slow start the dow rises 116 points, s p gained. 59 and the nasdaq jumped. 83 . When the market was once again cascading down, out and out capit capitulation, and then it just stopped. And then it started rebounding like crazy almost into the close because none of the prevailing negatives actually changed the higher Interest Rates, soaring price of oil. The rebound was widely dismissed. Hard to take seriously when the fundamentals havent changed at all, isnt it . But i choose not to dismiss it because these kinds of against the prevailing mood moves can be very meaningful. They have been many times in the past. A piv
Finance committee in about an hour. Well bring it to you live. Plus netflix boom ten years after launching its u. S. Streaming service. Netflix crushes earnings expectations. Not just its largest quarterly subscriber gain in history. And ecb leaving rates unchanged. Nasdaq futures pointing to a mostly flat open but dow on pace to drop for a fifth session in a row. First up, more trump cabinet picks heading to the hill for more confirmation hearings including Steven Mnuchin, president elects choice for secretary treasury to appear before Senate Finance in about an hour. Expected to be grilled on his role overseeing foreclosures while running one west which was indymac, also expected to be asked whether he agrees with weaker dollar policy, a lot to get to today. Look, i was involved with in indy mac, which he bought, people are willing to leave their homes before they leave their cars and it was the most reckless there was and they reamed me on it. And this guy went and bought indy mac a
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