We’re so oversold, the very fabric of this market is being tested now. Bill Ackman’s insane hedge fund, as reported by his own website tonight, is down 11.4%, before today’s ass-kicking. Chinese stocks rose by 1.8% and the NIKKEI barely traded down 500. As a result, SPY futures are up 8.
Are you going to fall for this trick again?
European markets are being called lower. The divergence between large and small cap losses are narrow, which speaks volumes to the level of distribution we are seeing. It is indiscriminate and without bias. Both big and small investors are getting laid into by Mother Market, with her fiercest squall to start a new year…ever.
The market needs to rally now. We cannot wait until Monday or chalk up Thursdays as being too close to Fridays, therefore unable to rally.
The news doesn’t matter, only the emotional fever of the moment. Right now, the mood is wrought with panic. Once the bounce gets going, that panic will transform into unchecked greed and then you will have your rally. Hopefully you’ll still be alive to see the day.
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Draghi speaking about inflation targets today…the only thing that matters. T/A’s are looking at 1867-1880 SPX levels of support. BUT this is the commodity bubble I have watched formed since 2009 and at some point Central Bankers can’t kill us bears.
Didn’t that bubble pop like at the beginning of 2013? Their bear should be practically over.
That is what I would have thought. Bubble Pop was when SPX was about 1755ish in 2013, yet everyone still bought? My shorting commodities and china worked in 2015…bottomline, bubbles take a long time to fall apart.
on top of everything else Monday is a holiday, who would want to buy before a three day weekend?
$SSEC closed above 3k so we got that. JPM looks to be reporting some good info. Looking like that countertrend rally might be starting up finally with some banks and their voodoo math.