Market rally fails again…is it going lower?

The S&P 500 is barely holding above a technical correction and it has failed multiple times at the 50 day moving average.   The rotation rally looks like it has fizzled.  Today was characterized by indiscriminate selling.  Everything was down- Tech, Value, Precious Metals, Bitcoin…everything. I think the market is headed lower…but I’ve thought that allContinue reading “Market rally fails again…is it going lower?”

Markets have been selling off for four straight weeks.

Today the S&P 500 gapped down, but then recovered to close at an intraday high, showing that bargain hunters are still active.  So is the selloff over?  I don’t think so.  I’m anticipating more down days as a second wave of COVID crests ahead of the November presidential election drama. The downturn will likely continueContinue reading “Markets have been selling off for four straight weeks.”

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”