I (state your name) do solemnly swear...

I solemnly swear that I really hate CNBC.  It is just awful.   All is seems to be is people talking over each other trying to prove that they are smart.  I guess that it what happens when you jam twelve people into a panel that is 90 seconds long.

And why are Cramer and Rick Santelli always screaming at me?!?!  What the hell did I do to them?  And Simon?  Man.  This guy better be careful because if he walks into the wrong bar, he is gonna get his ass kicked.  He is just that type of guy.  These guys really need to retire before they blow a gasket right on live TV

Personally I think the Feds should look into CNBC because I think it is responsible for a lot of people losing a lot of money.  The amount of inaccurate information and predictions they spew is just staggering.

 

Anyway...here are three important things that I am watching it the markets today.

  1. Tech sector continues to trend higher.  This sector is about 25% of the S&P 500 makeup.
  2. The Financial Sector has broken the lower end of it's recent range and is in a slight downtrend.  There has been some support around the $23 level over the past few days.  Longer-term, if it breaks $22 to the downside I think it could get right to $20 pretty quickly.  That is because it gapped up in the days after the election so there is a lack of demand in between those levels.
  3. As expected, Oil has found support around the $51 level but it is testing it.  If this level breaks there could be a meaningful selloff.   That was case when it failed at resistance at this level in June and October of last year and back in October of 2015.

 

 

 

The George Washington Inaugural Bible is the book that was sworn upon by George Washington when he took office as the first President of the United States. The Bible itself has subsequently been used in the inauguration ceremonies of several other U.S. presidents.

St. John's Lodge No. 1, Ancient York Masons, are the custodians of what is now known as the George Washington Inaugural Bible. On April 30, 1789 it was upon this Bible that George Washington took his oath of office as the first President of the United States. In 2009, the Lodge formed a registered public charity for the purpose of preserving, maintaining and restoring the George Washington Inaugural Bible. In 2014, the St. John's Lodge No. 1 Foundation, Inc. received recognition as an IRS 501(c)3.

The Bible is the King James Version, complete with the Apocrypha and elaborately supplemented with the historical, astronomical and legal data of that period.