Markets opened higher yesterday, with the SPY breaking over $199.40,
Wednesday Market Recap
Pacifying Thoughts
Stock futures find themselves flying high on another overnight levitation session. Last week we saw similar buying frenzies send the market higher, only to see much of those gains erode into the afternoon.
Last Friday started strong as well, stocks were higher into the jobs report, and then fell off a cliff after the report. I think we all know what happened next. It's been an almost $13 rally on the $SPY from the lows of last week. The relentless buying spree continues, with some of the buying furious enough that if this were a football game the referee would have blown the whistle already. There is no mercy rule in the stock market. Prices can run unabated to the upside, but when similar price action comes to the downside... oh boy.
October 7th, 2015 Watch List
Wednesday Morning Reads
Stock futures are levitated in the overnight session posting an almost 1% reversal from yesterdays close. Yum Brands is in a free fall with prices indicating a 'doomsday scenario' according to one analyst. A fast food restaurnt holding company seeing its earnings fall and the word doomsday just don't compute for me. But alas I don't eat Taco Bell or KFC, or Pizza Hut. I imagine those that frequent those places would be upset if they could not frequent them anymore. Although judging from the recent earnings report the growth is not as portly as before.
This mornings reads: