Financial Review

…Bad week for stocks. A trade war would be good and easy. Not so much. Financial Review by Sinclair Noe for 03-02-2018 DOW – 70 = 24,538 SPX + 13 = 2691 NAS + 77 = 7257 RUT + 25 = 1533 10 Y + .05 = 2.86% OIL + .39 = 61.38 GOLD + 4.90 = 1322.90 You’ve heard the old poem that March roars in like a lion and out like a lamb. March roared in like a mangey lion. For the week, the major indices were sickly. Oil stumbled. After much ado, bonds went nowhere.   The Dow and the S&P 500 moved below their respective 50-day moving averages this week and struggled to find support. Short-term, the S&P 500 has support around today’s low of 2647. If the S&P does not hold support, around 2647 to 2639, then the next level of support is a re-test of the Feb 8 low of 2580. I told you that it was unlikely the market would just bounce off the Feb 8 lows in a V pattern. It now looks like a retest is possible. If we can find support near or above 2580 (the close on Feb. 8) to around 2530 (the intraday low on Feb. 9), we could be setti