Loading ...The current rally started in late December with a Marty Zweig one day 1000 pt. “momentum thrust” on the DOW. How fitting it would be-and surprising to the majority, that this rally TOPS OUT with an out-of-the-blue, news event, momentum thrust to the downside.
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The past few weeks have seen “this can go on indefinitely/there is no end in sight” dialogue on the 3 biz channels and on internet financial websites-Last week Investors Business Daily ran an article making the case that we were in a brand new bull market.
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Last week saw the FANGS blow off with Amazon up $60 on high volume on Friday…we could spin any number of end game scenarios this morning…but one idea is for sure…disbelief will be the main reaction of the majority if we truly are topping out and today is the “kick off”.
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All that said…today is being spun on the TV BOX this morning as just an Art of the Deal extreme negociating tactic and all will be well in the near future…and I think that scenario is very likely.
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Gold is being subjected to the usual beat down…it’s never to respond as an alternative when “paper assets” are crashing and burning…but unlike 2008 when gold crashed, its still managing to print green up a pathetic $1.40…
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This just in & let’s see if it turns the market==
With Chinese stocks down a staggering 6% on Monday during their worst session in three years, Chinese state media scrambled to project an air of calm. Though his comments did little to quiet stormy markets, Chinese foreign ministry spokesman Geng Shuang told reporters Monday that a trade delegation is still “preparing to travel to the U.S. for trade talks” or what was – according to the US, at least – supposed to be the ‘final round’ of negotiations. However, he declined to say whether Vice Premier Liu He would join the delegation”, Reutersreported.