I am a big supporter of the Central Bank, with out them the political party's would control things. I choose the Central Bank.
nasdaq is falling apart....if the dow goes with it expect a huge lower close on the nasdaq of 1% or more..
Not sure if you guys follow this, I have Naz, INDU and SPX charts running on same screen, provides a bit of arbitrage at times, just like a little while ago Naz started selling off before others.
semi index is literally falling apart, micron technologies is just tearing it apart....off nearly 19% and at fresh 52 week lows, this is not good for intel and the rest of the semis in the short term, I was actually looking to buy SOXS but was waiting for more of a pull back below $37 to get in, went to $38 and change and is now trading up to $44+ go figure....its up huge today...I own a little SOXL that I had very nice gains in up until a few weeks ago, I was surprised when the nasdaq touched historical highs that the semi index that was very strong wasn't making new highs with the nasdaq, that should have gave me a hint to sell...
As I said this morning its the semi index thats knocking it down, it was a given that after micron announced the nasdaq futures were weak since early this morning....if it wasn't for Micron Technologies the nasdaq would have been up over 30 points early this morning with the dow up 100+ but the semiconductors prevented that from happening.
Yeah i follow both, its useful to know when there is divergence, if nazz is down way more than sandp generally you know rallies in the sandp are going to fail, or vice versa.
Had to step out for a bit to meet a client. Gold is looking good, SPX is looking poor, which I'd not expect judging from how zealously bullish the last few hours of posts are.
i'm taking a huge gamble, went long the chinese shenzen index today via ETF it sold off 20% in the past few days, bought it for a bounce