By: Steve Smith
Last Tuesday, after the market recovered from the sell off Monday and the previous Friday, I warned that the sell off might not be over.
Yes I’m still bullish, but markets go up and down while in a bull market…
And this market just keeps shooting to the moon, fueled by cheap and abundant money.
Last night the Asian markets got hit hard, which normally means we could see some pressure in our markets.
On top of that, technical indicators are flashing warning signs all over the place.
And as of this writing the markets have barely moved.
The Russell 2000 is down .05%, and the S&P 500 is up .12%. The Dow and Nasdaq fall in between.
Put bluntly, that means there are some powerful forces working to counteract the bearish pressure.
Liquidity and low rates? Yes.
Something else behind the scenes? Perhaps.
Whatever is going on, we’ll just need to sit back and see who wins.
And I’m the meantime, pick out spots carefully!
More on that tomorrow.
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To Your Success,