Posted on 09/09/2016 2:17:42 PM PDT by GilGil
"I think this might be the beginning of a correction," said Chuck Self, CIO of iSectors. "When you look at the sectors, it's a decently broad decline." He added that Monday "could be a pretty ugly day as well" since stocks were on track to end the week on a negative note.
"Intraday support has been violated, which increases risk of downside follow-through today. We believe September will be characterized by a healthy pullback, true to its seasonal influences," Katie Stockton, chief technical strategist at BTIG, said in a note to clients.
(Excerpt) Read more at cnbc.com ...
Hardly, the “markets” (Wall Street) are more solidly behind Hillary than any other special interest. If they are selling, that means they are worried the crony gravy train is in danger.
just about the only “prosperous” sector of the economy is the stock market (propped up at artificially high levels by all the “newly printed free money” the Fed is feeding it)
if the puppet-masters can’t even keep the stock market propped up for another couple months, its definitely the end of YouKnowWho’s candidacy
“Intraday support has been violated, which increases risk of downside follow-through today.”
Whoa. What??
The market was off about 2%. A true correction would be at least 10%. Not going to happen before the election, IMHO. Afterwards, look out, especially if Trump wins, and I am voting for Trump despite that possibility.
This could also might mean the markets (collectively) think Hillary will be elected President. Ouch.
This had everything to do with a Fed Governor stating that the Fed should raise interest rates at their October meeting...
As an aside, the markets would prefer Hillz.
Had everything to do with Fed Gov stating Fed should raise interest rates at Sept 20 meeting.
The stock market low went below the support level for intraday, which means it is looking for a new support level which will be lower...
This is the correction that hits every time the FED talks about raising rates. The market is priced for the current rates and adjusts lower for perceived future higher rates.
This has been going on for decades, it’s nothing new.
Higher rates means more competition for investment dollars from lower risk investments.
This will have no effect on the campaign unless it turns into a rout, and that doesn’t look likely. A rout will be caused by something else, we’ve already been throught this interest rate eadjustment several times lately due to false alarms about higher rates.
Yellen will just cut the Fed rate by 1% and all the international bankers will be happy making more money on credit cards and student loans, and adding an income stream for storage fees on deposits.
Not necessarily.
Today was an extremely unusual day in that almost everything went down except the US dollar.
US stocks, foreign stocks, Treasuries across the yield curve, Corporates, Hi Yield, foreign bonds, PM's, Oil, metals, commodities; all down.
About the only things that did not go down were the $US, VIX and some grains & Ag stuff.
Stock will go down 3k points. Hillary will make an economics speech, which will be crap and the market will go up 3k points. The MSM will declare her policy will save the economy if she is elected.
On day one the rates will go up, the market will go down 5k points and Hillary will blame congress.
The Fed is probably working on stimulation designed to send the Dow over 19K.
I figured they would with a new president. Can’t do that to Obama.
Thanks. That makes more sense than some political argument.
As an aside, the markets would prefer Hillz.
Markets as you know represent a composite of financial self-interest across a lot of people. On one side they prefer less risk and change (Hillary) but on the other they desire economic growth (Trump). Lots of balls in the air.
So now it will be all his fault.
See chart. All areas affected. I just assume Wall Street pulling the strings. Remember 2008 where McCain panicked and handed the election to obama? Maybe they are hoping Donald Trump does something similar. He won’t.
https://www.google.com/finance?tab=ee
Energy -3.04%
Basic Materials -3.03%
Industrials -2.63%
Cyclical Cons. Goods ... -2.27%
Non-Cyclical Cons. Goods... -2.23%
Financials -1.79%
Healthcare -2.21%
Technology -2.41%
Telecommunications Servi... -2.49%
Utilities -3.41%
This had everything to do with a Fed Governor stating that the Fed should raise interest rates at their October meeting...
Thanks. That makes more sense than some political argument.
As an aside, the markets would prefer Hillz.
Markets as you know represent a composite of financial self-interest across a lot of people. On one side they prefer less risk and change (Hillary) but on the other they desire economic growth (Trump). Lots of balls in the air.
I would like to think that they would like Trump and growth, but many have said he is unknown which is risky.
Time will tell.
.....and the Congress keeps authorizing him to do so.
How many lamp posts are in DC? Just enough, or more than enough?
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