Keybot the Quant flips to the bear side at SPX 3254 this afternoon. The whipsaw price action continues. The stock market deteriorated this afternoon with volatility, utilities, retail stocks, chips and copper jumping into the bear camp. The SPX plummets 79 points, -2.4%, to 3237. That qualifies as carnage and a bloodbath.
You know the drill over the last 11 plus years. You see the substantive parameters above that failed. Yes, it is likely that the Federal Reserve will ride to the rescue since the stock market failure is serious. Pope Powell may ride in on his pale green horse before the opening bell tomorrow and announce more money-printing, or, Congress will spout happy talk about the stimulus bill, or, King Donnie will say a covid vaccine will be available next week; anything to create a stick-save for equities and protect America's wealthy elite class (that own large stock portfolios).
More information is found at Keybot's site;
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.