Christmas eve posted a -2.06% day on the S&P500, when markets opened again on the 26th we closed up 4.43% (more than 100 S&P points). The DOW posted up 4.67% (+1,020 DOW points). Is this how we bottom? I don't think so. Since the Dec 26th intraday bottom of 2346 on the S&P, we … Continue reading The Ultimate Short Setup?
$TWTR bounced again off $26-27 reaffirming support. Looking at resistance in $34-36 range.
Last week we started off 2019 with a slide in equities, the S&P500 testing and selling off the 2520 resistance level. My thoughts at the time being that this was a significant resistance and we would not breakout from it proved wrong as the market ripped through on Friday. Fueled by the hope that Powell … Continue reading Starting 2019
Equities will be volatile and the bear market is upon us: If indeed Sept was the top of this bull market and we are headed into a well needed reversion to the mean; expect 2019 to be a volatile and dangerous year for equities and risk assets across the board. Structural flaws will become apparent … Continue reading Some thoughts on 2019
Since December start: $SPX is off 12.46% $DJIA is off 12.10% $NASDAQ is off 13.60% Previous support in the 2600-2650 level on $SPX failed. Sentiment is changing. While the saying that Markets have predicted 10 of the last 3 recessions is a truism, as sentiment changes, recessions become more likely to emerge. Not to mention … Continue reading December