28Oct11:32 amEST

Heavy Lifting: But is it Natty?

Both Apple and Intel are surging higher after earnings this morning which is, clearly, more than offsetting weakness in shares of AMZN. 

Beyond that, AAPL and INTC are housed in both the Dow as well as the QQQ ETF, leading a double-whammy of the indices painting much higher. Of course, those two heavyweights are doing a ton of heavy lifting. And even though the rally may not feel or seem totally "natural" or natty, and commodity stocks are getting sold hard as the Dollar bounces, it remains a tough tape to short with conviction and has been for a few weeks now. 

I expect that to change in due time, likely after the holidays. But that is a long ways off into the future in market time. 

Hence, I am back to being uniquely cash heavy into the weekend with the FOMC awaiting us next week, followed by the midterms the week after. More earnings will be key, but the titans have largely already reported. 

At this point I am looking to see whether some standout healthcare/biotech charts will be permitted to break higher into next week, and if commodities find buyers below. I will discuss this in more depth with Members over the weekend--Biotech/healthcare has been teasing relative strength for a while now so the big test will be if the breakouts can sustain. 

Don't Trespass on the Wrong ... Weekend Overview and Analysi...


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