It only takes one to bring them all down.
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Tag Archives: spy
Two ‘Weaks’
2008 is off to a terrible start. Check that. 2016 is off to a terrible start. It is the worst two 'weaks' the market has ever seen to start a year since the Bronze Age Collapse in 1206 BC. There are no stats on how many precious metals bugs were around back then, but there wasn't much money in television appearances and book sales during that era. Today fear sells and for the last 8 years the same people have been trying their best to sell it. Perhaps 2016 is the year the get it right.
Heading into 2016 I made quite a few predictions. I did not think two weeks in many of them would already be coming to fruition.
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Evening Market Outlook and Recap – Covering $AAPL $GOOGL $XLE $TLT $IWM $QQQ $SPY and more
2016 Predictions
What is the point of making predictions?
Mr. Drucker must have never heard of a Google driver-less car. And what fun is driving into the New Year without your lights on? You might not be able to see miles ahead, but when those road blocks come you can navigate around them. So here we are... 2016 is coming... how are you driving your car into 2016? A quiet country road with your lights off? Or a busy 6 lane highway at 100 MPH? Maybe you are trying to lose weight and your walking instead. Walking gives you a chance to look around.
As the late Yogi Berra once said " You can observe a lot just by watching"
How did my 2015 predictions go?
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Thursday Morning View
Stocks resumed their afternoon buying frenzy yesterday, shrugging off a nasty morning reversal lower to end the day over 1% higher.
$SPY was near that key psychological $200 level before price action turned south. After the bell $DB announced a near $7 billion loss, which was unexpected. Initially the stock fell after hours, but today the stock finds itself higher pre-market.
Jobless claims are lower this morning, but in order to claim unemployment you need to have a job. The last jobs report continues the trend of a labor force with a lack of participation. People don't have a job to get unemployed from.
The S&P500 continues to rally off last Monday's lows. Yesterday brought the market up to strong resistance:
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