Gotta give props to Souper. The Grinch that quietly reminds us that he knows nothing (who is our resident bond guru IMO) has been warning us quietly and in his own classic style that this was coming - Something Did Blow Up In Junk. So that's apparently what broke yesterday and sent everything tumbling.
Grandma is coming to town next week - this is all that matters.
On to the lie -
Well, thin, razor thin, would be a good description - Almost 70% Of US Stocks Are Below Their 200-Day Moving-Average. I'm sure we'll find a bully in the STB crowd that likes this position. Key is, can they squeeze the shorts again. If so, quite a run up could be generated. I think they deserve to be there or worse.
And don't forget According To Goldman, This Will Be The Biggest Buyer Of Stocks In 2016. Hint - corporate buybacks.
SPX 60m - Pos divs showing up at the potential HnS neckline (the rising one - there is another lower at 2020 where support and the 38% retracement of this recent move up lies).
SPX 30m - Yesterday I presented a consolidation scenario with potential to break out into a rising or falling channel. Was yesterday and underthrow of the recent triangle or did support for the move up case fail?
Freedom watch -
It will prolly happen here one day, just take notes and have concern - "China's Warren Buffett" Guo Guangchang Disappears
Just own it, physical that is - right now you should be trimming your investment portfolios and getting some cash out - all the way out into your home safe and converting that into physical gold, silver or anything - just trade your worthless paper for something tangible - The Screaming Fundamentals For Owning Gold
Christmas note -
More to come below.
Have a good day.
GL and GB!