So I will recuse myself from the discussion of whether today is a pause or a turning point.
I am going to throw out the potential of a 2-3 day rally (that fails) followed by a strong test of low or more likely a slightly new low (to shake out close stops) that establishes THE weekly low to be followed by a massive rally.
Has it ever crossed any bodies thoughts that powerful forces want Trump to fail.
Well folks
A stk market crash might fit the bill for a Trump failure
Who knows what might happen, a lot I am sure, but I am sure the risk is too much to own stks.
Trump is already pointing the finger at the Fed
If Trump is worried, I would be worried also if I owned stks.
And you can be sure Trump will not back down on the tariff war
Tariffs are not good for business
No market likes uncertainty.
Exactly!! What we know is fairly to mostly positive. What we don't know is scary.
The 1st estimate for Q3:18 GDP is about to come out and the general opinion is below 4%. Got beat up with Housing and Durable Goods A little disappointing unless you consider fairly recent history. I also fully expect upward revision with what should be some bullish releases later this month and next month. (Inventories, assorted MFG).
Trade war? Who knows. Interest rates? Pretty sure where that is going and looks manageable. Midterms? Will the outcome allow DC to attempt to undo a lot of positive eco-moves? Who knows. Lot's of uncertainty near term and that translates to a scary equities picture.
But, through my rose colored glasses, I fully expect one heckuva Santa Clause Rally.
If we assume this is a normal four year cycle low, and if we assume a "normal" correction in what I would call a healthy bull market, by the time this correction is over, all you should be reading and hearing is how this has turned into a real bear market. That's the job of a healthy correction in a bull market - to change the psychology from bullish to bearish. I think the chart I posted shows this pretty clearly.
But, if we are in the process of blowing off the top, the correction could be very minor. I have to think that international money flows are very important here. Where else in the world can absorb the amounts of money that is looking for any safe haven - or - the least bad safe haven?
....thank you..... women to the safe haven
67-42...... DUDE ....THEY ARE GIVIN THIS STUFF AWAY....
..... HELLO THANKSGIVING SHOPPERS ....AND A MOBILE HOME
QUINTUPLE WITCHING HOUR