Listen guys, never believe what you hear on TV. The charts will tell you everything you need to know. Trade what you see not what you hear.
Also Cramer used the words "DOW 9000". Buy signal confirmed. Hey, Incy, I'm gonna put my sim Ferrari money where my mouth is: Just hurled 50 ES sim cars to the long side. Will add to the position at 973. BANG!
10 years ago perhaps. Nowadays, central banks and other closely linked bureaucrats can simply change the rules at a moment's notice.
Kinda now looking like mild morning rally...mid day sell off..late day buy back and Dow ends pretty flat...I would say DOW ends day no more than up 50 or down 50...most likely in between...this was wrote at 4:13am CA time..u think?
spy daily chart looks big Head and shoulder pattern. if it breaks 1050 - 1040 on heavy volume then 980 here we come.
To bad bubble ben bernanke has used up all his interest rate cuts because you are right he would have easily used .25-.50 this week no questions asked. I'm sure he will come up with something by next week if the markets keep collapsing. Markets can only go up according to bubble ben bernanke so whenever a sell off of this magnitude comes into play he will scramble to do anything possible and keep the markets propped up.
Who knows what happens, it does feel like there could be an opening to the downside followed by buying under 10k, however anyone buying will probably close out positions on the smallest advance higher taking profits immediately. SPX breaking even more support this morning.