The worst month for stocks since 2008 and the highest consumer confidence since Y2K. Really, what else would you expect in a society full of dedicated denialists led to perdition by their trusted con men?
Market technician Ralph Acampora sees a waterfall decline similar to 1987. Stoned gamblers on the other hand - buying the dip for an entire month straight - see opportunity in 2015 China meltdown, 2016 global growth slowdown, peak earnings, Y2K 2.0, rotation to recession, 1930s tariffs, Fed tightening, and worst month for stocks since 2008:
"Concerns including a US-China trade war, the Federal Reserve's interest-rate policy, and a slowdown in global growth led to a wave of heavy selling."
This was October in a nutshell. Every major decline - including the all time high itself - came on/after Wednesday. Not a prediction, merely an observation.
Why? Because Wednesday is weekly VIX expiration - easiest time to manipulate the market.
This is the hypothetical Elliott Wave count for a waterfall crash, nested 1s and 2s, each one trend degree larger than the prior.
Third wave down at all degrees of trend. Trick or treat?
The Nasdaq (100) shows us this bounce is all very corrective:
Now picture every risk asset in the world 100% correlated. To the downside...
"Oil and stocks have embarked on the closest trading relationship since early 2016 and during the financial crisis sell-off."
The argument from Trump apologists for why he lies constantly but it's ok, is because it enrages the "progressives", which in turn "motivates" his political base. Thinking slightly beyond next Tuesday, those on the "left" believe that a functioning president should be honest and lucid lest "bad things" are happening. The good news is both sides overwhelmingly agree on one point - he was sent to blow-up the status quo. For that he gets an A+...
Market technician Ralph Acampora sees a waterfall decline similar to 1987. Stoned gamblers on the other hand - buying the dip for an entire month straight - see opportunity in 2015 China meltdown, 2016 global growth slowdown, peak earnings, Y2K 2.0, rotation to recession, 1930s tariffs, Fed tightening, and worst month for stocks since 2008:
"Concerns including a US-China trade war, the Federal Reserve's interest-rate policy, and a slowdown in global growth led to a wave of heavy selling."
This was October in a nutshell. Every major decline - including the all time high itself - came on/after Wednesday. Not a prediction, merely an observation.
Why? Because Wednesday is weekly VIX expiration - easiest time to manipulate the market.
This is the hypothetical Elliott Wave count for a waterfall crash, nested 1s and 2s, each one trend degree larger than the prior.
Third wave down at all degrees of trend. Trick or treat?
The Nasdaq (100) shows us this bounce is all very corrective:
Now picture every risk asset in the world 100% correlated. To the downside...
"Oil and stocks have embarked on the closest trading relationship since early 2016 and during the financial crisis sell-off."
The argument from Trump apologists for why he lies constantly but it's ok, is because it enrages the "progressives", which in turn "motivates" his political base. Thinking slightly beyond next Tuesday, those on the "left" believe that a functioning president should be honest and lucid lest "bad things" are happening. The good news is both sides overwhelmingly agree on one point - he was sent to blow-up the status quo. For that he gets an A+...
Speaking of which, less than one week to the election and consumer confidence is the highest since Y2K while the Nasdaq is tanking like it's Y2K. What could be more interesting than that?
"Consumers do not foresee the economy losing steam anytime soon"
In other words, Sears went bankrupt mid-October and Amazon blew up last week, but the "consumer" is optimistic. The concept of a "consumer", cleaved of job, income, benefits, retirement, and future is entirely an American-made fiction. A delusion sponsored by a reserve currency and paid in full with jobs, wages, factories, industries, and opioid-assisted euthanasia.
Here is where it gets interesting: No leadership in the stock market either:
“All the leadership is getting crushed”
Acampora said he believed that the entire stock market itself would go into a bear market and said the current dynamic in the market was eerily similar to the stock-market crash of 1987"
Also on the topic of 1987, the other reserve currency sponsored delusion is this Banana Republican serial belief in free money. Unfortunately, those who even slightly understand the bond market, finance, or even third grade logic will understand why long-term interest rates are rising, which is killing growth/momentum stocks:
"The debt issuance represents a 146% jump from 2017"
The deficit is expected to come in just shy of $1 trillion for fiscal year 2019 and will eclipse the $1 trillion mark in the following four years, according to official Trump administration estimates."
In other words, Trump is going to eliminate the deficit in eight years as he promised - by expanding it exponentially. Just another one of his 180 degree mega deceptions intended solely for the purposes of winning elections.
A+ on deception.
A+ on deception.
"Reagan proved that deficits don't matter" - Dick Cheney
Reagan proved that anyone can be president. Trump proved that Gary Busey is the Republican's go to guy for 2020.
Reagan proved that anyone can be president. Trump proved that Gary Busey is the Republican's go to guy for 2020.
