Did the FBI corruption tank the market Friday?

Discussion in 'Trading' started by 15rms, Feb 3, 2018.

  1. 15rms


    Just wondering if the FBI corruption tanked the market? If so that implies some serious problems we do not even know about.
  2. clacy


    Could have influenced it a little, but let's face it, the market has melted up for some time now. Eventually a correction is due.

    Also, the GDP forecasts and actual wage growth (2.9%) are big enough to cause worry about the FED raising rates to cool it down.
    johnnyrock likes this.
  3. if you look at all the sell offs in the market over the last year, you see they are all related to some political event...ignore at your risk...may not like it, but it is waiting to sting...
  4. KeLo


    In part, but also rising Treasury rates.
    DB and WFC not looking good either. Both were down over 8%.
    Plus the market got too far above its moving averages - overextended.
    How do you separate the events effect on the market?
    Last edited: Feb 3, 2018
  5. Pekelo


    It sure didn't help, but the market was already in sell off mode in the previous 3 days. On the weekly chart we went vertical, and that usually means a large drop off...
    johnnyrock, cvds16 and KeLo like this.
  6. cvds16


    This is just a minor storm in a cup of tea, it should probably be over by wednesday next week. Look at how stochastics behaves ... like Pekelo mentioned the weakness was allready in the market for over three days. NFP didn't exactly help things either ...
  7. All the selloffs?

    There hasn’t been a single selloff in the market in the last year until this week.
    Not one
  8. selloffs?...pull a weekly chart, look for red candles, apr, jun, aug, nov, all political related,
  9. I guess we have different opinions on what constitutes a “selloff”.
    The market had not dropped more than 4% in over a year and a half. That’s the longest period in 50+ years.
    bitcon18 and d08 like this.
  10. SunTrader


    Ya mean the fake news FBI corruption memo.

    Nah it was the "keep it real" news bond market.

    No free lunch.
    #10     Feb 4, 2018
    d08 likes this.