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S&P Futures Slide Under 1800; 50 DMA Support Breached; Taper "Gains" Gone For Most
S&P 500 futures just crossed below 1,800 - its lowest since the FOMC's taper announcement on December 18th. The cash S&P 500 (and small cap S&P 600) have crossed below their crucial 50-day-moving average (with no sign of dip-buyers yet). This is the biggest drop through that historically critical technical support level since early October. Perhaps more notably, most of the go-go sectors that were heralded by all the talking head momo queens on mainstream media as leading the next leg of stock gains have seen their post-Taper gains gone. From Builders to Banks and Industrials, taper-gains are now a dim and distant memory.
Post-Taper gains collapsing across sectors...
and Indices...
S&P futures slide under 1800 back to taper levels and the furthest below the 50DMA since early October
and all major indices now notably in the red for the year...
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Ladies and gentlemen please fasten your seatbelts as, oh shit....
Nah, just the Big Dogs causing a little diaper rash. Queen PrintsALot will arrive in a fe days with the cure.
How will I know when the "dip" has hit the bottom?
When the local authorities show up to escort you to the FEMA camp.
hedge accordingly.
I'm sure that the sell-off is Jamie Dimon's fault.
GITMO? I'm sorry I thought you said I was going to GET MO'!
This is nothing.
It'll have my attention if the Dow drops below 15K...
...and things won't really get really interesting unless it drops another thousand or so after that.
...and even then, my "oh shit" line, is probably at like 12K.
When local authorities show up, it won't be to escort you To FEMA camp, since you would have failed to show up there all by yourself, when you were notified of that duty. Wherever they escort you, they plan on doing it feets at the head.
House prices will tumble next, I'm afraid....ZIRP or no ZIRP...they are one of the few remaining Bubbles left. ZH already reported how C RE is sinking....residential next.
Hey, did you guys know that water flowing in a straight line will tend, over time, to form a sine wave? Or, in stock market terms, you got to give the shorts a small reason to be excited, every now and again.
This is just a short period of USD strength, as every other CB takes their turn devaluing, before its Fischer and Yellens turn, once more.
your broker calls gwito to visit ya for the margin call.
The markets are crying like the Wicked Witch of the West "Oh-h-h I'm melting!".
Or maybe they're saying, "How could a little taper like you destroy my beautiful wickedness."
Why are you asking? Surely you're not foolish enough to be considering buying into a failing market? The actual answer to your question is, you will not know; and neither will I. When I'm satisfied that I've ripped the market a new asshole and have a big profit on my short position then I'll take my profits; I don't care if it's the real bottom or not. Why should I?
"Surely you're not foolish enough to be considering buying into a failing market?"
Shirley you can't be serious. Please tell me you are not serious.
Stop calling me "Shirley".
The market will short term bottom around here at a small cyclical low period then retrace 50% maybe 61.8% back up towards the highs at which point it will fall right out of bed on eve of 2-14 / morning of 2-15 with down pressure of the long term cycle, next stop the 1650 area.
At least according to my extensive analysis.
How will I know when the "dip" has hit the bottom? -- Say What Again
When the clatter of Fed printing presses gets louder...
How will I know when the "dip" has hit the bottom?
Whenever ZH posts a story about falling equity markets - Buy THAT fucking dip. Works every time.
I'd tend to agree. Shorting these markets is a good way to get your face torn off.
Doesn't the SEC just DQ days like this? We love the deer!!
I doubt the Fed would let it crash cause rates are getting back to where they want them...but indexes are still technically way above overbought.....could be epic if they want to crush rates
IF they want to crush rates? The one thing that could cause THEIR blood to run in the street, rates? IF they want to crush rates? What do you mean IF?
Burn Mother Fuckers BURN.
Todays Forcast in New York, Slight chance of Raining Bankers
long banker proof unbrellas, you know, the kevlar type!
Just a blip. No control can be lost when the Fed has total control already. There will be an epic rally next week when Bezos announces some new magical way for him to sell shit at a loss. Make book on it missy!
i think this seems more appropriate than 'burn..."
http://www.youtube.com/watch?v=C7CBcc2rwkM
Let me guess. Taper will have to be discontinued going back to full QE of 85 billion a month in a few weeks so the stock bubble is not lost.
Might as well make it 125B
historic. this is the biggest crash the new e-trade baby has ever seen
Next eTrade baby ad:
"It can go down?"
e-trade baby loses everything... "i wanna take it back! i wanna take it back!!"
http://www.youtube.com/watch?v=AYrpROr9Gmk
Exactly! This is nothing. TPTB already have the obligatory scapegoat lined up front and center in the public eye too. Emerging markets. With that done it's let er' rip to the downside. When SPY volume hits ~500,000,000 or more then we might get a washout bounce on this trip down, but we're nowhere near that yet. Easy money for the smart/brave.
Maybe the job of hitting CTL-P has old Yeller confused.
She is a woman afterall.
Get back in the kitchen and make me a samitch!
My wife wanted a new watch for her birthday......I told her there was one on the stove.
Hehe
No, you didn't.
Since we are telling sexist jokes:
Q: Why was Helen Keller a bad driver?
A: Becasue she was a woman.
Are you sure about that?
Now seems to be the time that separates the boys from the men. Remain calm, people!
When it comes to Wall Street, the only thing that separates the men from the boys is a crowbar.
Another 5% on the downside and the money drops from heli-ben or heli-janet will commence. Pathetic! We should have taken our medicine in 2008.
Eat your peas bitchez
It can't be.
A Cash for Trash (POMO)day ,and stocks still go down.
Oh ,the humanity of it all.
the caffine has worn off and post down draft exuberence has been replaced with "have a nice day fucker, hope you lost your ass" attitude...
dont worry. fomc next week will fix it all. the stupid twat will come out holding ben's hand as they promise no one should ever have to bear a 3% "market" correction.
Picture this -- What if she comes out holding something else in her hand?
Express elevator to hell... Going down!
http://m.youtube.com/watch?v=E8YsS9508fQ&desktop_uri=%2Fwatch%3Fv%3DE8Ys...
since when was taper about juicing markets?
The Taper was suppose to be a sign that the economy was doing better on its own. Which of course is a farce.
"The Taper was suppose to be a sign that the economy was doing better on its own."
Yeah, somehow we were suppose to make the leap to 'believe' the economy was doing well in spite of trillion dollar deficits and trillion dollar a year QE. Like I've said all along, go ahead and balance the budget and end QE and let's see where the economy goes. Even just the first month of 10b less QE and the juice is gone.
No way to make it to zero QE now. Must retrace to 85b a month and then die with our boots on as eventually hyper will kick our butts.
Another 20% from here would be 1,440.
Long degressers for banker street pizzas.
Wow...I see red, I smell blood, I sense fear...time to POP some popcorn, open a beer, put the feet up and watch for the possible panic. "If it bleeds, we can kill it."
Nah, this bleeding is that womanly kind of bleed. Uncomfortable for a few days, but that's it.
pods
Nice
so far it seems a garden variety dip, not seeing panic
The Panic will not be Televised.
And then we have the smiling dickhead http://i.imgur.com/H5htx1B.png
how many markets do you know of that trade the same way at the same times 3 days in a row let alone 5 fucking years in a row?????
answer - Rigged markets...
http://www.kitco.com/charts/livesilver.html
well they finally succeded....
lets c - the Fraud Market is collapsing and the Metals after breaking out of resistance traded sideways for 2 fucking days but on another 200 point loss in their "Precious" we get this...
http://www.kitco.com/charts/livesilver.html
http://www.silverseek.com/
yeah right....
growth over yield baby.
PMs and miners up, bloated crap stawks down. Booyah!
NP My screen shows silver beatdown in progress.
Interesting that there's no concurrent action in Au. Usually it's a coordinated thumping.
Twit tweets talks to twerk taper. Taper to twerk to trillions.
This consumer economy has ran its course 6 years ago, now we are in the Titanic flotsam stage with the violins still playing.
Way to early for this article, that day is still young and the Gangsters have ways to pull this up in the final 5 seconds.
...so much for the January effect
and the sweaty brow day trader nevously taps the sell button hoping his position in jnug he opened monday will be enough to cover the margin as the spy declines again... can he really have been caught off gaurd so easily or will the market save him... tune in next week for part two
Buy the fucking dip you idiot!
http://www.youtube.com/watch?v=jllJ-HeErjU
"taper gain" just doesn't sound right ...
...and PMs heading into the toilet now too. Safe haven? Not while the Comex still exists. Everyone will be herded into BTFD.
Sell everything is a common startle reaction. I once bought Long Bonds, on the afternoon of Black Monday 1987, when the muppets had sold everything as a reflex; "forgetting" that the money had to go somewhere. As the Stock Market continued wobbly for the week, the Bonds rallied massively. I closed down trading and went to Mexico for the entire winter on that trade.
No worries. Janet is whipping up a new batch of Magic Ink as we speak.
well they finally succeded....
lets c - the Fraud Market is collapsing and the Metals after breaking out of resistance traded sideways for 2 fucking days but on another 200 point loss in their "Precious" we get this...
http://www.kitco.com/charts/livesilver.html
yeah right....
European close leading to buy up.
Just buy everything! Trust me, when the real dip comes it will happen a lot faster than this. This is just a jan gift for the boys in the know so they can pad their gaims for 2014. Signed,
A reformed bear
dear reformed bear; quitters never win, and winners never quit.
Let it fall to reasonable values before it ruins whats left of the Obama mess.
That was one ugly close over in Euroland.
About damned time!
Battle in the spot gold pit. Selling met with volume buying unlike silver folding on no volume. Maybe reflective of the Comex silver contract approaching irrelevance?
Like you always said,
“When goods don't cross borders, soldiers will.”
“The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else.”
its clear at least to me that the phony paper silver price is their focus relative to both of the only forms of real money...the way Gold is trading opposite of Silver is telling when they have always traded in lock step...
its so obvious...remember, Gold is out of the reach of the common man while Silver is 60 plus debt coupon dollars cheaper!!!!
Gold the MoneyChangers hoard despite their duplicitous jawboning...
Silver they aint got....fucking sociopaths...
KEEP STACKING....
PM smash in 3-2-1.
way to early to get excited....call me when its down 30%
How much of this is attributable to buy backs?
I know Exxon was doing so like crazy for awhile. Microsoft has a lot of cash laying around but they also BBed something like 40 billion.
I expect significant bounce back this afternoon, but I'll be drunk by then. Because the polar vortex.
Europe down 2.5% across the board - LMFAO!!!!
FUCK YOU BANKSTERS - SEE WHAT YOU GET WHEN YOU FUCK WITH THE SYSTEM?????
What if they were short?
Wooo look at that dive in gold. Someone decided to sell
For what it's worth, probably nothing; I don't consider the 50day moving average to be support; I never even look at it; but that's just me. Support is a price at which buying has come in "recently", (judgement comes in here as to when recently is); not a moving average. In other words, the concept "support" has an actual meaning in the vocabulary of the mass mind. But the mass mind does not operated on moving averages.
YES!.. keep going.
Would love to see a -40 handle today.
Maybe markets aren't so impressed with Ol Yellen as they were with Bernank after all? Just watch your .401K and bank accounts....Maniacal Monetizers be lurking about.
New 'new highs' again? Or maybe they figure it's time to rob everyones accounts now? I guess we'll find out soon enough.
DO NOT PANIC!! The Truth will be tortured a little more and put back out of sight very shortly.
This market does not go anywhere they do not want it to go. I am as bearish as they come but we know the game by now. They do this anytime certain barometers go off and they have been doing it for years now. Sell the markets off in order to:
1) Tame gold and silver prices when they start popping
2) Oil when it approaches 100.00-110.00 level
3) Tame bond prices
Then they sneak the markets back up again to new highs..has not deviated at all for 4+ years now. This is a completely controlled market. When this ponzi ends it will be an unseen event and will end in 1-3 days times with markets losing 40% just like that.
I've held that belief for years now.
Eventually, we'll wake up one day, and the markets will be closed. And guess what? They'll never re-open. Or not at least for a long, long time.
I wish I had some money to buy the dip in silver miners but I'm a stupid n00b who holds almost 0% cash :(
Its 12 o'clock, have you bought the dip yet?
BTFD?
This never happened under Ben, oh Ben, we hardly knew ye.
stocks looking very oversold about now, this selling is overdone. theres some good bargains out there today, im backing up the truck
You're likely right.
Look at the 10-year yield. Down nearly 30 bps since New Year's Day. Yet stocks are barely in the red.
The criminals have bought more room to the upside for equities, while taming the TNX dragon.
That should be good for S&P 1900 by Valentine's Day. Or President's Day, latest.
If I see S&P 1750 before then, I'll change my mind.
Next week is the hieght of company earnings reports, and there is also a Fed meeting in which they are likely to tighten. Earning outlooks for 2014 have pretty much stunk, so we'll probably get a lot more of that, and now we have this "emerging market" problem. With those factors in mind you should think carefully about where to back your truck up to.
I don't own a truck. (Yes, I know what you mean. I'm in no way diving into this mess of a "market". My 401(k) is as close as I'll ever get to doing that.)
you forgot something: sarc
Everything is at a 52-week or an all-time high. Yep, bargains everywhere.
To protect the stock market, I am temporarily suspending the convertibility of stocks to dollars.
Retirement off
got HVU? (or UVXY)?
:)
performance for HVU is dropping slightly. The constant should be 219 or so, the values today are reading in at 217, then 216.5, now 216.66:
hvu 1/11 x SPY = 219 trend line for past few months, 216 happened 2 years ago,
so by using 180.35 for SPY (current/near) this makes HVU for 8.46 which is far above the current reading of 7.52 by 12.56%.Generally UVXY and HVU move -11x to the SPY market ETF (power, not a ratio). http://flic.kr/p/ikyjpz
Where are the manipulators?
Lord save us
I shorted natural gas late yesterday because it's up 25% in two weeks and hugely over-bought....That being said, I didn't catch the license plate number of that big truck that flattened me this morning! UNG up another 6% today
At this point, I think they are focusing on keeping the gold price as stable as they can. They clearly cannot control everything anymore.
The tapir ate my homework.
But here comes Janet with the shotgun, so maybe we'll be having bacon soon enough.
Actually yesterday's decline barely registered on the market dynamics, even Ben would have slept through it.
Next week: NO additional TAPERing and promises of 0.000000000000% interest rates for an extra couple of years.