Posted on 09/23/2022 7:39:57 AM PDT by Presbyterian Reporter
The S&P 500 fell as much as 1.9% on Friday, bringing its rout in the week past 4.5%. The index already closed below the closely watched level of 3,800 this week, leaving the June bear-market low of 3,666 as the next line of support on technical charts.
The UK government unveiled a sweeping tax-cut plan that crashed the pound and the nation’s bonds as investors fretted over the stimulative effects with inflation running rampant. That soured an already tart mood for risk assets around the world. The S&P 500 plunged 1.7% as of 10:09 a.m. in New York, and traders who watch charts for signs of where the drop might ease are bracing for the worst.
“The technicals have fallen out of bed,” Art Hogan, chief market strategist at B. Riley, said in a phone call. “Losing 3,800 now brings the June lows into line of sight, so that has people waiting for that to happen.”
(Excerpt) Read more at yahoo.com ...
Doing smack again, no doubt.
Those charts should be logarithmic.
You ain’t seen nothin yet.
Wait until December when the FedCoin rollout begins.
Heard some guy on Varney’s show today on Fox Business say that stock prices are still 40% overvalued, and housing prices are a good 30% too high. I think that’s about right.
Ain't that the TRUTH!
I absolutely agree about that. I have no doubt that the Fed has tools and methods to manipulate the market in secretive ways that would astound people. They didn’t hesitate to rack up a $9 trillion balance sheet, which just goes to show how far they will go intervene.
Everyone has talked about the existence of a Plunge Protection Team for a long time. I for one have never doubted it but I also assume that it doesn’t take a plunge to initiate a Fed response to various other market disturbances and conditions.
The Fed pretty much does whatever it wants. JMHO
I agree with you, this all on the heads of the Democrats!!!
I agree with you, this all on the heads of the Democrats!!!
Yeah - 0.
NASDAQ
52 Week LOW
10,565.14
06/16/2022
NASDAQ IS CURRENTLY 10,885
WW3 would increase the stock market. Especially if they take out DC, think how much better things will run after that.
“DJIA now below its June 2022 low of 29,653”
Triggering a rebound.
Domino’s Pizza up 4.5% amidst all the market carnage. They’ve got enough delivery drivers to handle your order! Eat pizza from the comfort of your home while you watch WW3 unfold on your TV.
The world knows DC is our handicap, and is therefore safe from outside attack.
Yet millions of idiots are going to vote for their favorite democrat on Nov 8???????
Rick free rates are used in calculating security prices (Capital Asset Pricing Model) so its likely that there’s more downside from here IMHO. Basically, costs for businesses rising means earnings falling. Not to mention ongoing supply chain problems and rising labor and input costs.
There may be a brief burst of optimism in the market around the election in the expectation that the Pubbies will slow down Biden’s destructive pace. It will prove to be false hope.
Powell is speaking today. He’ll probably throw the market a bone so my guess would be the market will close somewhere above the present level. We’ll see.
Attempting to reason with, debate or enlighten Democrats is futile. I worked with a lot of them over the years; they are immune to facts, logic and the lessons of history.
Can anyone delineate where the FED ends and the NYSE/S&P/Nasdaq begins? I'll wait...
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