Yes down is a lot faster than up!!!! And yea china raising rates of course took everyone off guard, now I think bubble ben bernanke should take notice and remember that this economy is no supposed to run on asset bubbles like it has for the last two decades.
http://www.bloomberg.com/news/2010-...nflation-in-money-binge-patrick-chovanec.html Hmm. The last bit of fun started in Feb 2007 in China: The selling started overseas when a key gauge of Chinese stocks slumped 8.8 percent in Shanghai Tuesday. No, not turning into a bear, not yet anyway. Definitely (bears) watching though.
Bear: "ROAR!!!!!" Bernanke: "STFU BEAR!!!" click click.....Bernanke prints another trillion....BANG!!! "Wheres the next one?" J/K
TOP!!! Are you completely nuts? There is no top until the dollar bottoms. Or are you calling a dollar bottom based on one days trading! In that case you are double nuts. I don't suppose you bothered to notice that the close today was strong, not weak. Why not wait for a close below the trendline? then we could start talking possible top.
see how far we can go here. based on sentiment may be rather far. Second leg will sink people that thought they dodged the GFC.
All I can say is bears need to beware of the coming golden cross (50 / 200-day SMA) on the $SPX chart. I'm tempted to short, but that could derail any down momentum.