You've heard me say that many times, it is because the underlying technicals and breadth of the market are so bad that it is like skating out on ever thinner ice, a train wreck waiting to happen.
Last night's Price/Volume relationship was the strangest I have ever seen, whether that is leading us to something bigger, we'll see. The extreme volatility today in an otherwise divided and relatively flat market probably was another signal of something nasty to come and as always, quiet markets always have me on the edge of my seat.
For right now, we can see how fear is stronger then greed and how markets fall a lot faster and harder then they rise.
AAPL closed down .57%, it was up earlier .61%, that means nearly the entire move and then another .57% was wiped out in 25 minutes and look at that volume.
Sadly the Dow didn't have long enough to test and or break support
The IWM from yesterday's close
The Q's had a gain of .56% and closed at a gain of 0.01%
The SPY closed down -.16% taking out nearly all longs and it looks like it's going after the rest of them in AH at the red arrow.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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