Train wreck imminent. don't get too complacent, perhaps a simple dead cat bounce the past two days? something big is about to happen in America that will impact the liberals and their drive to keep US equities inflated going into the election.
so far the big/smart money has borrowed at near zero rates to buy stocks and stock futures for 8 years. Now the same Big Money can borrow the same amount at near zero rates to SHORT the US and global stock markets and ride the SPX down to 1,000 from 2,000 over the next 9 months or so. lower highs and lower lows. do not buy the dip this time, it's all over.
IBD's Big Pic Headlines....."Stock Hemorrhage Continues at Market Outlook worsens".....
I wonder if they have ever done a study to see what happens to ones portfolio if they buy on the day the market officially enters correction? For the past 8 years that was generally been the bottom of that correction phase, but this time could be vastly different and the market could decline to SPX 1,500 or below.
5, 10, 20, 50 100 150 and 200 dma's all breached. Remember Oct 1987 when the 200 dma breached on Friday? could a Black Tuesday be in the cards this time?
Market in correction raise cash. after IBD switches to Correction the market will rally had. They went to confirmed uptrend Thursday then back to Under pressure Friday....They always get it wrong. but p/c was 1.17 Friday an VIX actually down a bit today. Guilty til proven innocent.