D&D Note (3.27.2018) ~  Artificial Intelligence + Social Media + 10YR = Selloff #StockMarket #Selloff #AI #FB #10YR ~

D&D Note (3.27.2018) ~  Artificial Intelligence + Social Media + 10YR = Selloff ~

Today we saw a market rally fizzle into a selloff. The DOW was up over 100 points before then succumbing to a NASDAQ selloff + 10YR note yield declining below 2.8%, at the end of the trading session the DOW closed down -344 points.

The S&P 500 closed right at a critical retracement and support level of 2612. The NASDAQ fell the most at -2.93% to close at 7008.

Another car crash (today by Tesla) coupled with the recent negativity surrounding self driving cars and a report from Nvidia that they are suspending their self driving AI tech sent the NASDAQ crashing near the end of today. Add more pressure on Facebook into the brew and a falling 10YR yield below 2.8% to close at a yield of 2.781% was reason enough to send the whole market into decline at the close of trade.

With the sectors of Financials and Technology making up 40% of the S&P 500 it is just impossible to have a major market movement forward with out one or both of those sectors leading.

News that the North Korea leader Kim Jong Un made a surprise visit to Beijing (his first visit outside the country since taking power) has the market reasoning a possible deal is in the works on this high tension political tension flash point. This ahead of possible talks with the USA.

D&D sees the current market action as an over reaction and a reason to buy the dip. This is technical confirmation of February’s correction on the upward ascending 200 day moving average. We could still test the technical low of February but overall we see this as a buying opportunity.

Today the portfolio bought TSLA for the first time. We picked up the company around the $280 long term support level.

Tomorrow we will look to either possibly add to TSLA or FB. If another opportunity arrises then D&D will let the market’s price fall to us.

D&D movers:

– MO up 1.88%

– UNLRY (UNCH)

– TSLA down -8.22%

– NVDA down -7.76%

– MU down -5.69%

– IMLFF down 5.18%

Indexes

– DOW down -1.43%

– NASDAQ down -2.93%

– S&P down -1.73%

Sector Movers:

– Utilities up 1.46%

– Telecom up 0.52%

– Real Estate up 0.14%

– Technology down -3.47%

– Financials down -1.98%

– Consumer Discretionary down -1.92%

Notes

– US 2-YR 2.274% (down -0.004)

– US 10-YR 2.781% (down -0.007)

– US 30-YR 3.037% (up 0.006)

Volatility

– VIX 22.50 (up 6.99%)

Crypto (1:00 PST)

– BTC $7,890.00

– ETH $456.96

– BCH $885.88

– LTC $139.35

Metals

– Gold $1,345.80 up 0.28%

– Silver $16.545 up 0.02%

– Copper $2.998 down -0.08%

Energy

– Oil $64.87 down -0.58%

– Brent $69.77 down -0.48%

– Nat Gas $2.717 up 0.11%