Here's what I expect to happen* based on periods of past history - music starts fading out (as it is now), actual bear market starts (as its doing now), the market either fights it tooth and nail or people start jumping ship, amazingly all sorts of pessimistic economic data starts rearing its head (with previous mainstream "experts" claiming to have known it all along) and the tapestry is complete. * - provided the Fed doesn't go full retard and try to arrest the inevitable.
Looks like most of the markets in AH are showing green, seems as soon as the markets closed they started bidding up all long etfs, I can tell because SPXL is already up a Dollar and change since the close and TVIX is down over $1.00 which is pretty significant after the market just closed minutes ago.
The Fed (and it's rumor mill) will provide support on "bat out of hell" algo driven squeezes to short term tops...If 2007-08 is any roadmap there will be many corpses left in these markets...
TOP NEWS & ANALYSIS Stocks plunge in worst September start in 13 years All three major US indexes stood in correction territory on Tuesday as weak China data hit stocks. • History predicts another wild week
That's for sure. US can print oodles more dollars to keep market afloat, FWIW Carboni does make a lot of sense when he brings up Dodd/Frank bill and how it harms liquidity on the way down, hence the magnitude of the slide we witnessed last week. I see a nice strong bounce into tomorrow's open.
i think this will get bid up overnight a little. I am long 16074 dow cash just looking for 50 ticks on it.
Last Mondays low is just inches away....might get some dip buying tomorrow but if they can't lift it out of this 16,000 area soon you are going to see 52 week lows very very very very soon....