The market has been under pressure all morning long, although there were efforts to buy weakness early in the day. The Apple (AAPL) news is not a surprise,  but the financial media is reporting it as a “shocker” and are suggesting the US economy will go off the rails.  It’s obvious any company manufacturing out of China will see some delays in their supply chain even as many have asked workers to return to the job.

Moreover, Apple has a large customer base in China, which mans a double hit while domestic retailers like Costco (COST), Advanced Auto (AAP), Lulu (LULU) and Walmart (WMT) are enjoying strong sessions. 

I like the way the market is acting overall…sometimes there are more sellers than buyers and its not the end of the world. 

Actually most of the time when there are more sellers than buyers it’s not the end of the world.  I’m impressed with the market and underlying economy

Manufacturing Turnaround

The Empire State Fed Manufacturing report was the best in nine months driven by giant bounces in new orders and inventories.

Empire Fed Manufacturing Report