The US market rose from the DAX close. The DAX close was the dip, and people bought. We should gap up tomorrow. I'm 100% long overnight.
I think the bears have an upper hand for the next few days. Here is why: 1) yesterday's drop in SPY (-2.4%) was met with extreme VIX jump +30%. the natural interpretation/expectation: excessive fear that will lead to a noticeable short-term bounce. 2) today brings no surprise from the Fed: the market is flat AFTER the news. all we got is +0.8% bounce from yesterday. basically, i expected a bigger bounce given 1)+2). the bulls clearly demonstrated their weakness today. tomorrow may be critical.
Shortie, time to take your losses on your shorts. We're going back up. Noddyboy, get back to your 5x leverage.
And just like that the small 200 point dip disappeared within 2 days. Good to know the 0% interest rates are in place to keep the markets propped up!!! Sold my UYG too early at $72 this morning, thought there would be a little dip after the opening but instead they just jammed it higher.
OIL 85.35 2.13 +2.56% Even oil is having fun today, I'm already paying over $3.00 at the pump and enjoying every last bit of it thanks to speculation in oil and no inflation, $3.00 is still cheap.
You know this is a bull market not a bubble when there are zero thread titles that are bullish even as we make new highs.