5/3/2018 The major indexes recover from large morning losses and most close slightly down. The Dow Jones bounces off the support zone near the 200 day moving average.

Fun Fact #41

During yesterday’s earnings call (5/2/2018), Elon Musk cut off the analyst that was asking him questions and said: “Excuse me. Next. Boring, bonehead questions are not cool. Next?”

Immediately after the next question, Elon Musk irritatingly replies: “We’re going to go to YouTube. Sorry. These questions are so dry. They’re killing me.”

Source


 

Market stocks 5_3_2018.PNG

DIA 5_3_2018.PNG

Dow Jones was down nearly 400 points today. As you can see in the chart of DIA, the ETF representing the Dow Jones was down 4 points in the morning. 

I’ve circled each time the index has bounced off at or near the 235 level. If DIA closes below that level, we could see another 5-10% more downside. 

Tomorrow, Alibaba (BABA) is reporting earnings at 6:30 AM eastern time before market open. Since there are low expectations going into earnings, I think there’s a good chance BABA will move upwards and test 190 tomorrow. Anything can happen though. 

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