….Dow hits another record. Others slide. 1987ish. Amazon does its thing. Intel, Twitter, Starbucks, et al. Foxconn goes to Wisconsin. Skinny repeal on tap. Financial Review by Sinclair Noe for 07-27-2017   DOW + 85 = 21,796 SPX – 2 = 2475 NAS – 40 = 6382 RUT – 8 = 1433 10 Y + .03 = 2.31% OIL + .08 = 49.12 GOLD – 1.50 = 1259.60 The major stock indexes moved to all-time intraday highs, only the Dow held on for a record close. The Dow Jones transportation Average dropped to its lowest level in nearly two months, with UPS offering a weak outlook and FedEx falling in tandem. Volume was heavy today. The Nasdaq Composite and the Nasdaq 100 or QQQ just fell off a cliff around midday. With a higher high and a lower low than yesterday, we have an outside reversal, a fairly strong bearish move – but it isn’t necessarily conclusive. Tech has been leading the markets, and now the FAANG stocks have all reported earnings; so it might be nothing more than buy the rumor, sell the news. A JPMorgan derivatives strategist thinks it might be more; claims low volatility has led to more leverage; recommends buying S&P 500 puts as a kind of portfolio insurance. For anybody old enough to remember 1987, portfolio insurance has nasty connotations.   A milestone was passed this week when one-month Treasury bill rates rose above 1 percent for the first time since 2008. That may not ...