Sky is falling along with OIL

Saudi Arabia kicked off an Oil price war in retaliation for Russia not supporting further production cuts.  Oil dropped to nearly $27/barrel before settling around $31.  This is the hardest drop in Oil since the commodity collapse of Feb 2016.  (see chart) The S&P 500 broke below its 2 year moving average and so farContinue reading “Sky is falling along with OIL”

Virus or Politics?

The market has been EXTREMELY volatile, with 3% swings on a daily basis. Today’s 4.22% rise in the S&P 500 has been attributed to the results of the Super Tuesday Democratic Primaries.  The market prefers Slow Joe over Socialist Sanders…no surprise. But what about COVID-19 hysteria?  I’m sure that will be back tomorrow, which isContinue reading “Virus or Politics?”

Good News!!! NASDAQ up 0.01% (:

Wall Street’s hemorrhaging slowed a little today.  The NASDAQ was up, well really it was “flat” but we all needs some good news. There are some encouraging developments- S&P500 was under pressure from weekend Hedge Fund selling.  All things considered, it had a “relatively” strong close at the top of its daily range and 3.2%Continue reading “Good News!!! NASDAQ up 0.01% (:”

S&P 500 in Technical Correction below 200dma

Today the S&P 500 officially went into a technical correction and broke below its 200 day moving average. Volatility on the VIX was above 36 10 Yr Treasury sunk to an all time new low of below 1.25% Wall Street is in total freefall.  How bad can it get?  I don’t know, Bitcoin soared irrationallyContinue reading “S&P 500 in Technical Correction below 200dma”