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.”

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”