The list keeps getting longer... and longer... and longer.
When this market isn't busy recycling the same excuses to sell, such as Trade war, tariffs, Ebola, Greece, Recession, inverted yield curve, Euro Crisis, The Flash Crash, The U.S. Debt Downgrade, The Fiscal Cliff, The Sequester, Cyprus.... its out looking for another reason why the market is ready to collapse.
Just this week we have two fresh entries..... the Saudi oil attack this past weekend had the bears up late Sunday night... longing for that giant RED candle that will finally validate their consistently bearish outlook on the markets and life.
The next entry... the 'repo man'. What am I referring to? Read more about it here:
The FED stepped in yesterday and again today to do something it hasn't done since the financial crisis. Bearish right? Market crash worthy? Red Alerts. Banks up late. Phones lighting up. And this all comes on the week the FED is to announce, possibly, another rate cut.
This weeks events/news is so bearish for the market that is dropped about 1% from its record highs....
What does that tell you?
The market doesn't care much about these most recent excuses. And guess what? These excuses... at least the repo one just may inch the FED closer to starting back up that QE program.
QE? Wouldn't starting QE admit the economy is on the brink of recession? Perhaps. But at the end of the day... low rates and QE have been terribly good for the market. I've mused over the years that the next recession might actually bring higher stock prices?
How can it be?
Here we are just a stones throw from new record highs and the FED is doing things it hasn't done since the lows in 2008/2009. The ECB just last week kicked off a brand new round of QE and made their negative rate policy more negative.
The Central Banks are hell bent on keeping this expansion going. Which means the stock market will continue to expand.