Market Sell-Off Continues

-
Markets are down again today. After gapping down at the open, the DJIA was down more than 500 points at 1 pm CST, and both the Nasdaq and SP 500 are down about 2 percent. 

 Oil (WTI) was down $4 a barrel to less than $53. It hasn't been this low since last November. 

As I indicated yesterday, the Nasdaq fell 3 percent below its 200-day moving average. The SP 500 and Nasdaq hit that level today. 

 However, the SP 500 index is still holding above the October low, which is a key level for chart watchers.

 This is not a market to be buying. The February 2018 low on the QQQ (Nasdaq ETF) was about 150. Current level is about 159. 

 What happens next is anyone's guess. Patience is the key for now.

Comments

Post a Comment

Popular posts from this blog

One more time: The difference between rich and poor

-
Image
There are numerous posts on this blog, and millions on other blogs and news sites, on the subject of what the rich do different, but it's worth repeating again, I guess. The principles are simple. Still, some two-thirds of Americans live paycheck to paycheck. For many, the act of using all of your monthly income to cover your monthly expenses — with no money left over and none for savings — is a fact of life. Look, I've been there. It can be a mindset, and a trap. Best to get out of it if you're in it, as fast as possible.  Depending on the survey, the percentage of people living paycheck to paycheck runs from half of workers making under $50,000 (according to Nielsen data ) to 74% of all employees (per recent reports from both the American Payroll Association and the National Endowment for Financial Education.) And almost three in 10 adults have no emergency savings at all, according to Bankrate’s latest Financial Security Index . Even many in the upper class are seeing t
Read more

The Hidden Agenda Behind the Global Warming Hysteria

-
Image
Climate change activists are not just interested in reducing carbon emissions in order to "save the planet." Their underlying desire is to overturn capitalism and replace it with socialist governments worldwide.  Our story starts with the IPCC, or the Intergovernmental Panel on Climate Change, a U.N. organization. "And any settlement of the Global Warming issue by the UN would entail massive transfers of wealth from the citizens of wealthy countries to the politicians and bureaucrats of the poorer countries." (1) In 1992, at the first U.N. Earth Climate Summit in Rio de Janeiro, Brazil, Program Executive Director Maurice Strong stated, very candidly:  " We may get to the point where the only way of saving the world will be for industrialized civilization to collapse. Isn’t it our responsibility to bring this about?" (2) Former U.S. Senator Timothy Wirth (D-CO), then representing the Clinton Administration as U.S. undersecretary of state for global
Read more

Politics is Downstream of Culture

-
Image
Excerpts from an editorial by Nick Searcy, actor, director and writer: The most overused quote in 21st Century conservative columns and speeches has got to be this one, and the reason it is so overused is that we have not addressed it to this day. As the late great Andrew Breitbart famously said, “Politics is downstream of culture.” We have let the Hollywood Left define the culture for at least the last 50 years. We had already conceded academia to the leftists, and as a result of their long march through the institutions, we have an army of socialist youth that rally to socialist superstars like Bernie Sanders and AOC because of their sheer ignorance of the death cult that is socialism. But now, we have been given an opening... We ceded academia to the Left 70 or so years ago, and they have been running up the score in our school systems and universities ever since. You can see the consequences of that at any Bernie Sanders rally. We now have a vast number of historically ignoran
Read more