There is indeed a storm coming to Florida as hurricane Irma hits the state this weekend. I sincerely hope everyone’s family and friends will be safe. We are very concerned, as my in-laws are hunkered down in a community center in Palm Harbor (near Tampa Bay). The storms path is now headed directly over Tampa Bay as it heads north.
But there is also a storm coming to the stock market. It almost feels like the lull before the storm right now. Things can change very quickly. Today’s brief market update video is a snippet of what I review with my Insider Members.
In this video I look at the Dow Jones Industrial Average (DJIA) daily and weekly charts. I then discuss the Semiconductor ETF (SMH), Homebuilders ETF (XHB) and Financials ETF (XLF). I also look at the High Yield Bond Fund (HYG) which is definitely telling us something, loud and clear, this weekend.
Lastly I look at Apple (AAPL) which was down $5.42 this week, closing below last week’s range. Interesting weakness ahead of their big product announcement day on Tuesday.