Update: No post tonight - Little Shanky has his last game of the year.I'll leave you with this from ZH - Bloodbath "The correction, soon to be crash, is here: the market had a bigger relative open to close move today than it did on May 6. We closed at the day's lows on massive volume, despite definitive central bank intervention, regardless whether it was the SNB, the ECB, or the Fed. The central planners have lost control of the market, and all thanks to the inevitable collapse of hyper capitalist Keynesianism coming out of the formerly most communist country in the world. A day of ironies. And it's not over. Futures are already down another 4 handles. The correction is coming, and it will be a bloodbath. The Fed can not push rates lower. It will print. It is inevitable. It is our destiny." Welcome to a third of a third (super bear move in plain English).
UPDATE: Zero Hedge reads like a market obituary again today. Just get the hell out of the market. If TD Ameitrade is down, you're screwed. Remember to always use SL orders to protect.One of my favorite posts over there today Bill Gross: "Hedge Funds Liquidating To Preserve Capital" Uh, NOT GOOD.
It may only be a B wave, but you never know. 97 to 00 on SPX may not be a bad spot to reenter or add to shorts. That is unless the buss just left the station.Time will tell. Minis somewhat still fighting that 87 support I posted earlier. Here is the INDU 1m chart.
Minis retested VWAP and 38% retrace at 89. Still flirting with the 38% retrace.
Crude (/CL) TODAY! Sadly this will take a light year to show up at the pumps. Talk about a rip off. OBTW, I hope all of you are boycotting BP at this time.