You would? Unless in tonight's cnbc special report they have breaking news of more fed intervention I would be surprised. ...i think what most want to see tomorrow is a huge negative opening of say 2%+ then a reversal by mid day to market somewhat of a short term bottom...I'm sticking to my advice that the markets are headed to October lows, aside from that new 52 week lows on the dow aren't to far way, that would place a 15 handle on the dow, a hhh who saw that coming 2 months ago when the dow was above 18,000 and could do no wrong.
just realised my worst trading loss all year on that move down, pretty dumb move in hindsight buying friday aftermarket hoping for a gap p but i didnt think werd go clean through 1970.
Yep just like I thought, nearly 1% drop...now is it understandable that markets can lose thousands of points in only weeks which takes years to gain.....fear triumphs greed.... Now if this sell off continues into the close tomorrow and markets around the world drop 5% or more by Tuesday or Wednesday the fed will have an emergency meeting as early as Wednesday or thursday....i do see some buying and a possible relief rally however the trend is down, down, down.... what I find very amusing is that just a couple of weeks ago there were articles and fools on cnbc saying how the market was heading higher. ..Tom Lee being one of them... DOW (MINI) FUTURES Index Close Cur Future Change 16459.75 16312.0 -155.00 FUTURES FAIR VALUE (-35.25) Fair Val Close Cur Future Change 16431.75 16312.0 -119.75 Last Updated: Sun, 23 Aug '15 | 7:24 PM ET S&P 500 (MINI) FUTURES Index Close Cur Future Change 1970.89 1953.5 -18.00 FUTURES FAIR VALUE (-3.71) Fair Val Close Cur Future Change 1967.79 1953.5 -14.29 Last Updated: Sun, 23 Aug '15 | 7:25 PM ET NASDAQ (MINI) FUTURES Index Close Cur Future Change 4197.27 4158.3 -42.50 FUTURES FAIR VALUE (-5.53) Fair Val Close Cur Future Change 4195.22 4158.3 -36.9202 Last Updated: Sun, 23 Aug '15 | 7:24 PM ET RUSSELL (MINI) FUTURES Index Close Cur Future Change 1156.79 1147.8 -8.10 FUTURES FAIR VALUE (0.69) Fair Val Close Cur Future Change 1155.59 1147.8 -7.79 Last Updated: Sun, 23 Aug '15 | 7:23 PM ET
There's some buyers down at 1951 for sure - but I'm just content to watch for now. Awaiting Asian market open. Australia opens in about 1 minute as well.
Guess it's easier to put up a headline like that after the s $ p has had its worst drop in 4 years, this headline was nonexistent when the s $ p was at 2100+ now after the fact it's easy to make such a prediction. ...said could be a possible relief rally ahead of at least 2% according to history S&P's Stovall says possible negative year for stocks Patti Domm | @pattidomm 4 Mins AgoCNBC.com 3 Getty Images Traders work on the floor of the New York Stock Exchange. Standard and Poor's/Capital IQ strategist Sam Stovall says the market could be heading for a true correction, and if so, it may take until some time in 2016 to get back to break even. The S&P 500, as of Friday was down 7.7 percent from its May high, and it lost 5.8 percent just last week alone. "Should the S&P slip into a long overdue correction mode, it will likely take longer than year end to get back to break even," said Stovall. In 2011, the S&P was just very slightly lower, down much less than 1 percent. Before that it was last lower in 2008. As of now, it is down 4.3 percent for the year. "A five to 10 percent decline takes one month to materialize on average and two months to get back to break even. So, if we turn around before dropping 10 percent or more, we have a chance of being positive for this year, but because we've gone 47 months without a decline of 10 percent or more versus the average of 18 months since World War II, I think there's a good likelihood this becomes a correction, and if that's the case it ends up taking four months to get back to break even," he said. Stovall said the market could see a near term pop after last week's big drop, and he does not see a bear market coming. The S&P 500 Friday was down 64 points at 1970. "As a result of last week's near 6 percent drop, history says we should expect a pop next week. During this bull market, whenever the S&P 500 fell by 4 percent or more, the market gained an average 2.3 percent in the following week, and registered a price advance 80 percent of the time. What's more, since 1945, the 500 gained an average 1.6 percent in the week after a 4 percent plus decline and rose 66 percent of the time," Stovall noted. U.S. equities were slammed hard Friday, after weakness in world markets, particularly in the emerging market currencies. China's weak manufacturing data Friday added to the selling spiral, and Shanghai stocks were down more than 4 percent. Commodities were also slammed as the oil complex was sharply lower, withWest Texas Intermediate crude futures falling through $40 per barrel. The Dow ended Friday down 530 points at 16,459. Patti Domm
Its Sunday's like these I wish I traded futures Relief rally is coming, if not tomorrow easily by Tuesday afternoon or Wednesday, if Asia opens positive and Europe follows futures could be bright green by tomorrow's open.