The Russell 2000 is already down over 18% from all time highs. While the S&P is down 10%. But that could be the bottom of this sell off for now. Could we see a bounce after CPI tomorrow? Would do you think?
A bounce is definitely close however it will be a selling opportunity for most trying to catch the bottom I did open a short position in UVIX since I know how quick the smallest of bounces will drop that volatility etf like a rock!! As for tomorrow and inflation data that is going to create crazy volatility!!
Normally I've been on the side of doubting all the permabears on here. However, as I posted a while back, the trade war is a serious downside catalyst. Commodity stocks are doing well short term and most of the damage is to high flying IT stocks who have foreign exposure. Broader US markets however could correct more because sectors like Auto are going to get smashed unless Trump relents.
You posted your hindsight cheerleading at the high of day again. SPX sold off 70pts just after you posted that.
I think you have it mixed up.....just saying It's the stairs up and the elevator straight the fu*k down
Get ready for an extremely volatile day tomorrow, with a vix near 30 and CPI data due out before the open we could easily see a 2 to 3% move tomorrow!!! And inkling of inflation in tomorrow's numbers and we are headed straight down!! Headline annual inflation is forecast to come in at 2.9% in February, just below January's 3% annual gain. On a month-over-month basis, prices are estimated to rise 0.3%, below the 0.5% increase seen in January. On a "core" basis, which strips out the more volatile food and energy costs, CPI is expected to have risen 3.2% over the past year in February, a touch below January's 3.3% increase. Monthly core price increases are anticipated to rise 0.3%, below January's 0.4% rise.