like an armed gun, this thing really ground lower. yet, it's like nothing even happened. do these guys even know how to trade? thanks to traders, the spy is lower now, and by allot, than the valley of death in Diamond Valley, west of the diamond mountains in nevada.
just like a loaded gun, if the markets keep heading west, depending on the route they take, once they make a high at Donners Pass, it's all down hill from there all the way to the Pacific Ocean and we'll be back at sea level again. And it's a long trip across that ocean until we hit Mt Fiji. It's just like a loaded gun, moving ever westward. And then we have to make that cold trip across Siberia. And once you hit Europe you can kiss that loaded gun good bye. You won't see that again until you make it all the way across the Atlantic, through NYC and into New Jersey. But once we get back out to Western Nebraska and Wyoming we should start seeing a lot more bulls. And then get ready for another trip through Death Valley. It's just like a loaded gun.
The market isn't down 15% yet. But the odds are SPX will fall below 1800 sometime this month. Earnings season is coming up people. http://investingtrack.com/will-the-sp-500-make-a-new-low-in-the-next-3-weeks/
Traders today get their "panties in a bunch" too easily. Years ago, a -20% dip in the market was considered just a "noise correction". Until the SP breaks 1820 and sustains... the markets are just "noisily slopping around".... tradeable, but not really bearish.
I made my last conservative buy and hold purchase at 1806, and have no interest in buying anymore unless I can get a better price than that. If I am representitive of those of us that have been long since 2006 and have never sold and only added, this looks to me more like a traders playground.
Earnings and rate hike will probably make it harder for the bulls, but let's just see when exactly it'll come and what direction they'll point at.
I think it's worth watching what happens to Shanghai Index after Xi Jingping leaves the US on 9/28/15. Will the PPT over there keep holding up the market? http://www.theguardian.com/world/2015/sep/22/china-president-xi-jinping-first-us-visit-seattle According to the Guardian, "US officials plan to raise the issue of China’s volatile stock market" during Xi's visit. Worrying about the US concern over China's stock market won't be an issue after Xi goes back home.