Who knows. I think many people have believe it to be 'today' many times already by now. We sold off more than this earlier this year. But with FED actually increasing rates this time, who knows. What do you think, @Scataphagos ?
Historically, the market deflects interest rate increases initially... "up to a point"... rationalizing, "the economy is strong enough to grow in spite of the rate rise". Then one day, the market "changes its mind" about the negatives of interest rates*. *It's possible the market is doing this right now.... with "the 2x top in the Dow". Then again, there will be multiple "possible tops" along the way... but only ONE actual top.
TL;DR? @volente_00 calls a mkt bottom, yesterday, and the ES promptly loses 71 points after his bottom call. He shorts SPY puts (baller!) at 1.99 and they're worth 6.50 after hours. They're at 5.20 as I type this. His chit chat thread should call a top while this thread calls a bottom, every hour, on the hour. #CautionaryTale
Ain't no bottom yet. Not till at least 2700. At least. The first move is never the last. And we haven't even seen the reaction to the drop.
Hell of a call there des. And yer less than .5 from the whole number. That means you win a mega cookie. (Not just a bunch of small ones. Like one the size you can live in. Nice work.)
My crystall ball claims a 3/5 chance we'll have another solid down day tomorrow. Assuming we don't recover overnight and open heavily gap up.