There is money on the sidelines that is waiting for election to be over before coming in. When it does, you will see the S&P rise. They are not buying the oversold signals today.
'Should be' trading lower? Unfortunately we have to trade prices that the market provides, not fantasy prices. If you were trading real money you'd know that.
Well today the FED announced it's leaving the discount window open to investment banks until January. The SEC declared today after a vote the short-selling ban on the high-brow breed of financials will extend to August 12. The next FOMC meeting takes places in September. So we know where they stand, at least temporarily, right? It's not a consipiracy thinking financials are loading the markets full with more borrowed FED money; it's a God damned fact!
So the emperor really has no clothes. Credit is contracting, consumers are pulling back spending and cashing in. Baby boomers moving funds to market money accounts. So who is buying in this market?
No FDIC Friday the last two weeks but FRE and FNM should be trading in the upper to mid pennies tomorrow, so I'm going to go ahead and call Black Monday. I'll bump this thread at the risk of getting it locked. We all know it's coming. So why not tomorrow?
You keep saying the same tired old line eventually you get it right. Though it wont be tomorrow. Mate get a new mantra its so boring