If you are a turkey that couldn't see it coming a mile away, give up the game now and practice your new career selling apples on the street corner. Thems apples, not Apples.
There's not just one variable that impacts the market. It's getting hit by a ton of them each second. Managers react to the ISM, Debt, whatever with their own interpretation of the situation. Just follow the price action. You'd have to do real time correlation studies among all asset classes to better predict if a single variable was at play. Obviously debt issue is king but everyone has their own opinion of whether the news is positive/negative. Again don't get lost in the clutter and just follow the price action. *** The market is looking like it's bottoming right now but I will get long ONLY if we make a new push to the lows...
That's hillarious! Classic buy the rumor sell the fact. Now we have to see if the 200DMA holds. If not watch out!
Here I'll draw it out for you. Right now we are stuck in a range, resting at the 200 day MA. If we break range lows, watch out below. That is what I see. Until we break range lows, we are in a sideways market, not a bear market. That is what the charts say.