Below you will find an abbreviated version of this week's edition of my financial newsletter, "The Maley Report." I give the full "Table of Contents"...and the "Short Versions" of our first 3 bullet points from this weekend (along with the charts that go with them). To see the full edition of this weekend's "Weekly Top 10" (with the rest of my "Short Version" and ALL of the points from the "Long Version" of our weekend piece)...AND to receive our daily comments about the markets...please click here to subscribe to "The Maley Report" (TheMaleyReport.com).
THE WEEKLY TOP 10
Table of Contents:
1) The markets are ripe for a pullback. Will the coronavirus be the catalyst?
2) Key levels to watch on the S&P 500 and Nasdaq if the market falls further.
2a) The Russell 2000 is closer to ITS key support levels.
3) Key levels for the important tech ETFs (XLK & SMH).
4) The yield on the U.S. 10yr note is also testing an important level.
5) Utilities have gone parabolic.
5a) The bank ETFs (KBE & KRE) are quite close to their next support levels.
6) The rally in the XLU shows how the algos distort things today, so stay nimble.
7) Sentiment reached pretty extreme levels early last week.
8) Gold’s recent action was good…even before Friday.
9) Tucker Carlson is terrified of Michael Bloomberg.
10) I HATE Ely Manning…BUT I do think be belongs in the HOF.
11) Summery of our current stance.
1) It’s impossible to know how this coronavirus will playout or what kind of impact it will have on the markets. However, since the market was overbought, overvalued (or at least highly valued) and over-loved early last week, it was (and still is) vulnerable…..We’d ...