Da Bears are everywhere!
–Initial jobless claims – 36 million and counting
–Retail Sales-16.4%, total spending down 89.3% YoY
–BBY, JWN, BBBY, COST, WMT, KR
–GDP could decline by 42% in the second quarter, according to the Atlanta Fed
Monsters of Tech
5.8*FB+6.4*AAPL+12.7*MSFT+GOOGL+AMZN
–tech weak and threating to break apart
–sector rotations are reversing
–RUT, XLE, XLF, and Tech
–if tech goes, we all go…
The range is still with us…
–the volatility box
–the longer we are in the range the more violent break
–Bonds
–Gold
–Index/Equities
–Dollar
Bonds showing signs of life
SPX Expected Move
–last week– 79.60 (expected)
–next week–
–11 out of the last 18 weeks have seen moves OUTSIDE the EM
