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S&P 500 Breaks Below 2,000, Crashes Into Red Year-Over-Year
The S&P 500 index has broken below the crucial psychological 2,000 level for the first time since late January. This is the biggest collapse in stocks since June 2013 (bigger than October's plunge - which was only rescued by Bullard's threat of QE4). What is perhaps most worrisome for the trend-followers - the S&P is now down year-over-year for the first time since May 2012... which once again brought The Fed out with moar QE.
The S&P 500 has broken below the crucial 2,000 level...
And The S&P 500 is now down YoY for the first time since May 2012...
Charts: Bloomberg
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Negative Rates! Bullard! Cramer! Someone? Hello?
Party like teh S&P is 1999.
NO more BUSH, NO more CLINTON
Buy the dips !!!
cheddar cheese dip? For the carnage carnival.
http://imgur.com/I86FNJs
We are still in a long term uptrend and buy-and-hold equity investors won't be swayed by such short term noise. The real bear market here is gold, which is down over 40%, and silver, which is down an absolutely astounding 70% from its high!
Repeat after me:
I will never be as good as the original MillionDollarBonus.
I will never be as good as the original MillionDollarBonus.
I will never be as good as the original MillionDollarBonus.
I will never be as good as the original MillionDollarBonus.
I will never be as good as the original MillionDollarBonus.
at least we know, thanks to him, that there are NO coordinated actions and NO ONE actually has power.
This rivals Santini's eternal optimism that Ponzi schemes actually do work, if you just get in early enough.
cheddar cheese dip? For the carnage carnival.
Interesting to watch the "Markets" trying to walk without crutches.
What a fucking farce
the baby is throwing a temper tantrum for more QE
I shouldn't have bought that $1 million cheese truck?
Rien ne va plus!
Actually party like it's 1929...
1933 is jest around the corner...
There is a Joker in the pack for the P-Residency...
Such a big sign....
Imagine a bad hair day in that Ohwell office!!!
Whomever wins the election will have a lot of "Legacy" to clean up and reverse.
you could have put a few more sets of quotes in that sentence.
8 years going I've been hearing this..hurry the fuck up with it already so we can recover and I can move on with my life.
A While back I talked about how it was crazy to act as if stocks and bonds at these valuations were the only thing to have in a portfolio as many financial advisors and commentators claim. Let's see if PM's can hold up in the face of the continued selling in equities.
yeah, we KNOW the fundamental support levels:
bullard - 1860
yellen - 1980
evans - 2000
evans in 3, 2, 1...
Now where is my Dow 10,000 hat?
Relax! Cramer says we have or about to hit bottom!
Unpossible. The market circuit breakers would kick in before it falls that far that fast.
This just in from the bridge of the Titanic: ---...--- ---...--- ---...--- ---...--- ---...---
OSO OSO OSO OSO OSO
Oso is bear in Spanish, seems apropos.
We have a dyslexic morse code operator.
Dog is their copilot
My 200 spy oct put contracts are doing putty well today. And it is not even september yet.
I see the PPT is kicking it into high gear on stocks and trying desparately to cap gold and silver...
http://www.marketwatch.com/
http://www.kitco.com/charts/livesilver.html
The Chinese stock market is the new leading indicator.
This way to the cliff>>>
Boo Yahhh! I'm drinking the good stuff tonight!
Makes 2 of us. Although crown is good stuff to me. Yeah I am cheap.
Maker's Mark...
If you're gonna drink either with coke and ice , it really doesn't matter, you'd be wasting your money.
That is usually how I drink most bourbon's. I likely am wasting my money but I am one of those folks who look at it this way: If it aint broke dont fix it. With that said there is likely a good mixed drink I have missed
Almost time to break out The Balvenie. ;)
Everybody should own at least one really good bottle of hooch for these situations. I've got the daily rotgut, but I have a bottle of very premium tekillya for just these special occasions.....
I have 2 bottles of VIDA San Luis del Rio Mezcal just dying to make an appearance.
Like drinking and smoking at the same time.
pods
I bought a bottle of 12 yr to crack open when Wisconsin won the NCAA tournament.
So, yeah it is still sealed
I have a bottle of Crown with 1972 stampled on the neck label.
It's a tossup between Minero and Chichicapa for me. Depends on my mood, I guess. Not that it matters, I'm too po' to afford either right now.
I have a bottle of Everclear in my freezer. Been in my freezer for years. Shit prolly kill me if I took a swig.
Depending on where the market closes, I might start celebrating early.....
Bottom (for now).
"I think I want my money back"
http://s14.postimg.org/j1vdv3i81/nicky.jpg
raise rates lmfao
Don't move......or the dummy gets it.
Those stupid fucks at the Fed coulda/shoulda started raising rates a long time ago; then they would have some room to play today. Now they only have the Weimar solution.
Or the US could make a trade agreement with China to dismantle some of them ghost cities and re-assemble them over here. Kruggy would be pissing his panties with glee.
K
The reason they didn't raise rates is because the economy would implode the instant they did.
Recession = time to pay back debts and build savings = higher interest rates = less spending and the exposure of the US Ponzi economy
The fact of the matter is, everyone is broke from too much debt, and it's only a matter of time before they have to pay it back. For a decade (a few maybe?) we got buy on stealing everyone else's wealth and borrowing trillions as if there was no tomorrow, but now 'tomorrow' is here, and playing on the geopolitical chessboard is getting more expensive.
I have the gun pointed at my head and im going to pull the trigger......crickets
Look at those margin clerks sell gold... oh wait...
WTF is Silver getting slammed for today?? I hold paper and Phys. Is my paper safe if shit gets sticky??
The answer to "is my paper safe" is always "no".
... unless it's you were planning to wipe your ass with it and it's Charmin Red
Your phyz will be fine. Your paper.....is not even paper. So its anyone's guess.
Can't go to zero right??
You still hold paper???
How the fuck else would I hedge my long position in physical?
I thought I bought at the bottom.
*blush*
Do you know where your 'money' is?
Do you know where your 'money' is?
Hopefully not in the DOW, NASDAQ or S&P at this stage!
Now repeat after me 3 times BTFD... BTFD... BTFD... And make a wish!
the global equity bubble is blowing up...
now lets see....
which way should the only 2 forms of real money be moving????
oh yeah - i got it....
Naturally, gold, silver and your home might need to be liquidated to cover the losses on the toothpicks holding up the derivative market.
Pessimism is in a bubble world wide.
BTFD.
Don't forget to wipe.
That is all.
Have a nice weekend.
Ha, that guy was good! They should have him back for forty lashes, live on CNBS.
They can call the segment "12 Years a Whore"
http://video.cnbc.com/gallery/?video=3000402353
(Nasdaq was at 5150, lol)
STFU. (That's what makes a market.)
the sooner we re-test s&p 666 the better...........i dont think it will hold.....
The devil's embrace.
Kevin Henry to the white courtesy iPhone...
Sorry, who is Bullard?
Break out the 'It's Happening!" gifs?
is this really it? the beginning of the end? i just become 'awake' recently and am behind on essentials. is this a slow train wreck or something that could literally capitulate overnight?
Panic now . . . avoid the rush.
panic just isn't my style - but yeah, avoiding the rush would be good. inquiring to ascertain whether it will be an all credit shopping experience or a glock 19 / ar-10 shopping experience
See my previous post.
QE forever starting Monday morning?
I'm ready to short this fucking market. I think the time has finally arrived.
(I think I just shit myself...)
The Fed will make sure the S&P will close above 2000.
If not then it means the Fed has lost control.
I thought the Fed was tapped out lending to the house of cards at the PBOC ?
FINALLY.....I might be able to sell my UVXY and not take a total bath on it!!
Sell that POS, alot of better ways to buy vol.
Oil about to dip under $40 bucks.
Wake me up when 5000 head-count payroll cuts become a yawning weekly occurrence here in the Bay Area.
C'mon mom, just 5 more minutes Ok...???
Today the new mantra is..."Its the stock market, stupid"...
Dove-tailing nicely with "the shit hitting the fan" scenarios for September that are being talked about all over the place...
September should be interesting me thinks...
maybe the September expectations were just a set up to keep dumb money in there long enough for the TBTFs to get out
Yes, merely expectations. An agency with no credibility and a limited understanding of basic macroeconomics.
You know, ZH predicted everything that is unfolding today about two years ago, a little more, don't recall exactly. From the equities, bonds, oil and general commodity collapse, EM's failing. I remember it.
So, pretty astute to call it that far ahead! Or, really lucky. I'll default to your perspicacity...Kudos.
This was both predictable and predicted at the start of QE1 - you can't defeat math.
Famous last words from the 401k types
" Oh I don't pay attention to those things "
Sorry, if you can't or won't take care of your investments and financial future - then you deserve to be fleeced again and again and again, how many warning do you need? Morons.
Can't believe I shitcanned my Dow 10K hat
Oh no! The collapse of this shitty predatory system is starting to affect those who own stocks!!! Pull out all the stops to fix it right now!!!!
Goldman Sachs will never let the drop hold. BTFD at 1450
I am going into my backyard naked to launch some fireworks
The Bernank will replace Yellen on Monday. We will then have the mother of all QE! Nobody can print like the Bernank.
mmmmm! Biryani!
I've been an investor in the stock market for 35 years. INVESTOR not speculator or day trader. I've seen lots in 35 years. Black Friday makes this reset look like a bug bite. 2008 was the worst because no one knew how bad it really was for many months. We are still suffering from those mistakes. In all those times I NEVER sold a share of stock in panic. Watching your 401k get crushed is never fun. What goes up will come down and vice versa.
My advice is calm down and don't let your emotions make your decisions. The people that control it all LOVE when the sheep panic. Don't get slaughtered. Just my opinion.
In those days the debt-backed money system had not yet eaten itself alive. Now it has, and under the current system financial markets have nowhere to go but up. If we do not change the current system the results of even the slightest wobble in the real economy could be devastating overall.
Must....increase...gold...margins........arrg!
Spaceghost in his retirement job at the Fed
The Nikkei just took out it's 200day avg.
It's on like donkey kong... bitchez.
Now Yellen,, where the fuck is that plunge protection team.. What the fuck are you paying hem for
How the fuck are you going to get this fucker back over 2200 by close
They're all panicking trying to delete their Ashley Madison Profiles, don't want the Muppets to know what their Real Preclutivities are now :) Marty
"What a day, what a lovely day"
http://www.bing.com/videos/search?q=Mad%20max%20fury%20what%20a%20lovely%20day&FORM=BVLH1#view=detail&mid=27A1B22435F242F0E7C427A1B22435F242F0E7C4
Not to be of concern.
Just a NORMAL little cold spell.
( I read it today on Yahoo, so it must be true.)
'Normal' stock drop
"if you’re chilly in this stormy little cold spell, put on a sweater and wait."
https://finance.yahoo.com/news/-normal--stock-drop-breaks-an-uncommon-ma...
Watching FBN this morning, and of course there are segments of hand wringing and concern about the market selloff inserted in between stories about Trump.
Not one mention about gold, which besides the VIX, was the only green thing on their screen. If they do finally get around to mentioning the gold elephant in the room, I'm sure it will be just that, a short note on the .5% gain so far today with no in-depth analysis.
I was right! The talking head with the British accent finally gave gold a 5 second mention, calling it 'a run for the exits', with a hint of disdain in his voice.
Don't want the minions to know about gold. Might drive price up to soon and impede the elite hoarding of gold.
http://www.reuters.com/article/2015/08/21/us-usa-fed-inflation-idUSKCN0Q...
US Federal Reserve tightening cycle scenario involves risky bet on inflation
By Howard Schneider
August 21, 2015
Federal Reserve officials planning to lift interest rates as soon as September have been encouraged by solid U.S. jobs growth, but inflation holds the key to how far the Fed can go in moving rates away from zero.
Fed officials have said that they do not need to see prices accelerate to start raising rates after six years near zero, and "lift-off" appears nearly ordained by a 5.3 percent unemployment rate, the lowest since April of 2008.
But it would be a leap of faith to move any further without proof that prices are on the rise, say current and former officials familiar with the central bank's debate and the current state of inflation research.
If prices remain stalled as the Fed tightens, inflation-adjusted "real" rates would rise faster than the Fed wants, and threaten the recovery. Given the uncertainty among economists about how inflation works in the post-crisis world, it may be risky to assume higher prices will necessarily follow a tightening job market.
"There is a big component of inflation that is just going to be idiosyncratic and unexplained," leaving policymakers to take their best guess about it, said former Fed research director David Stockton.
He said that after an initial rate increase, Fed Chair Janet Yellen would lead her colleagues on a "cold, dispassionate examination" of what the inflation data are actually showing.
"If inflation is not moving back to target ... then she can argue for a go-slow approach."
NEW DYNAMICS
Inflation will be the key topic at the Fed's annual Jackson Hole economic conference on Aug. 27-29 and the gathering is likely to highlight how little policymakers and economists feel they understand about the behavior of something so central to monetary policy.
Inflation did not fall as much as expected during the 2007-2009 recession, it has not risen as much as expected during the recovery, and there is suspicion it may remain hard to budge, said Michael Owyang, an assistant vice president at the St. Louis Federal Reserve Bank.
"There has been a lot of new research. Volumes of new research. And I am not sure there is a consensus about how policy affects inflation at the zero lower bound," Owyang said, referring to the fact that the Fed's benchmark has been held near zero since late 2008. "Inflation dynamics have changed."
The rest of the world is not helping. A weak global economy has depressed world commodity prices. The prospect of the Fed raising rates has boosted the dollar, further undercutting inflation through lower import prices.
That has confounded the Fed's forecasts for a year now, and according to minutes of its July meeting remains a central concern - and one of the risks that could delay an initial rate hike beyond the Sept. 16-17 policy meeting. After the minutes laid out the internal debate about inflation, investors cut their expectations for a September "liftoff" in favor of December.
The Fed, keen to move away from zero and create some policy wiggle room, may still move. But at some point it needs inflation to do so as well.
"Inflation dynamics have changed."
Ya think ? !!!
Hedonics: Your 84" HD TV gives you more tingleys in your bum than grampa's 14" black-and-white TV gave him in the 1950's ? What unabashed horseshit.
Too late! They missed the ball, and now the market will do their job for them.
Let them meet, and yap about this and that, things are out of their hands now. A day late and a dollar short...too bad.
No one wanted to take the punishment years ago, when the market indicated a sharp correction. So they propped, and subsidized, and supported those inflated valuations, hoping they could change the rules this time.
The rules haven't budged. But the potential losses have piled up, and now the market will take over and do that which Yellen and Co. were unwilling to do themselves.
Nothing they do will stop this. They may get a bounce here and there, only to be swamped when the relentless downward pressures continue, and accelerate. And worse, as the tanking continues, it will become painfully obvious that the Fed is truly helpless this time, which will only exacerbate the selling pressures. People will suddenly realize that this is it, and they'd better bail while they still can.
remember we are talking common core equities. get ready to btfd! there is no way they let this dip below a 10% correction. there is way too much wealth effect at stake.
NULAND.
SECOND WITCH.
THIRD WITCH.
bid
beautiful.
K
Hail, Macdow King of Stockland
and Thank you, Thane of Kayman
Keep a watchful eye on my monies
Its time to give every illegal immigrant an IRA. That will produce a S+P bid.
SP500 in sub 2000 ? Need moar QE ASAP !!!
The S&P 500 (or its peer SPY) signaled yesterday (August 20) a primary bear market, as it finally confirmed the bearish action of the Industrials and Transports. The SPY by violating its July 8, 2015 closing lows, signaled a primary bear market.
http://www.dowtheoryinvestment.com/2015/08/dow-theory-update-for-august-...