Looking at the SPX daily chart it appears this happens quite often (unless I misunderstood you). mid-Feb 2016, mid-Dec 2015, mid-Nov 2015, mid-July 2008, mid-Nov 2008, etc. There are many cases where this happens exactly so on the charts during volatile markets as we have today. Many of these saw heavy selling prior, and soon after followed by bigger selloffs. Bear markets are noted for volatility. There are a lot of things "wrong" with this market: gold and the dollar are both rising bonds are outperforming stocks --junk:treasuries are falling --corporate:treasuries are falling --growth:value are falling tran:utes is falling like a rock CRB below 40 yr support the utes, staples and energy sectors are the leaders financial sector is performing absolutely horribly TNX falling since mid-March while SPX is rising Compq still below it's 2015 resistance high Europe 100 hasn't been able to get over the 200 all year DAX, CAC et al are doing more poorly than the SPX NIKK looks terrible FANGs like NFLX, AAPL, FB, etc vs SPY are underperforming (AMZN doing well) These are just off the top of my head....and I kinda got on a roll there sorry about that. All time highs might be achieved for the SPX but I don't think it is sustainable for very long considering these issues that currently exist.
Good point. I didn't get the feeling of panic after the Brexit vote however, selling felt orderly. The vote outcome was unexpected, but it seems most were hedged against it.
2075 resistance on the ES in the 5min chart. Im excpecting to see some profit takers today, but pre market has held up pretty good, so it does not look like they are in a rush to sell this morning just yet.
That 2080 level boy...just when I thought I was finished mentioning it for at least a couple of weeks...like a bad penny LOL.
Didnt see any news, but support on ES at 2060 was being established, so buyers came rushing in shortly after.
UK may need more stimulus by summer, says Bank of England http://www.cnbc.com/2016/06/30/brex...ry-easing-by-summer-says-bank-of-england.html
Trading 201: Gap keeps getting wider. Should be interesting to see what happens? Ratios below are flat still...
Did the FTSE100 really close above 6500? Strange times indeed, must be the stimulus talk referred to above.
is this just some end of Q shenanigans or something more? guess we find out soon ... i was kind of hoping for some boring sideways snoozefest action until after the 4th ... dang it ... oh well
