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S&P 500 Tumbles Into Red For 2015, Breaks Key Technical Support
Bonds are back in town and stocks are tumbling. Dow Transports remain the worst performer of the major indices (down over 11% year-to-date), but, after the exuberance of October, November's reality of a tightening Fed has dragged first Small Caps, then The Dow, and now The S&P into negative territory for 2015. Only Nasdaq remains in the green (up a stunning and entirely unsustainable 10% YTD). The S&P 500 also broke below its 200-day moving average.
Breaking below its 200-day moving average...
Charts: Bloomberg
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The Stairway to Heaven has a trap door.
We just lost our resident chart jockey due to a collar bone injury.....can anyone tell me what this means?
Important levels to watch are the 250 day moving average and the gap from 22nd-23rd both at about 2060. If they lose those as well as the 200 there may be fireworks. The 250 has only been broken once in the last forever amount of days and then the S&P had to pause because the floor dropped out. I expect a strong defense today but then I expected it the last few days as well. Kevin on vacation maybe?
And i wont make the mistake that i made the last time the Market broke 1,000 pts in one day. Others, smartly took some or all profits. I held on and gave a great deal back.
I'm just going to be a sparrow this time and chip away at the loaf.
Just sound and fury signifying nothing.
Check out UVXY if you think the market will continue to tank. Someone bought over 17,000 January 2017 calls of the $170 strike...it's currently trading at $29!
http://www.goldsqueeze.com/home/uvxy-a-potential-hedge-against-market-in...
You had the death cross back in August that's all you need to know
And more Hindenburg omens than I can count.
You underestimate..............they will keep the slave ship afloat for as long as they can. Their very lives depend on it. (Literally)
Hmm...someone snapped up some gold
Not complaining but WTF was that?
I underestimate nothing. The point is that technicals don't mean a damn thing when the "markets" have become a policy tool.
Its the Hindenburg enema that should worry you more.
But.., but.., Santa Clause is supposed to bring the banker bonus.
Plenty of time for Santa to show up. Not even December yet. Got to keep the "markets" up so the sheep will buy crap that nobody needs and give it to people they don't like.
Some of Da Boyz running out of time to exit paper gold. Generating a nice little squeeze in that all too obvious 1078-1080 level.
It's just a flesh wound...
sound and fury indicative of nothing
Bipolar....
The January effect: Still in play and coming to an Index near you!
Have they noticed the derivative WMD triggering Glencore has gone down 13% today.
The plunge protection team have just noticed and are trying to pull it up again.
Still -12.5%
Next stop 1880 into the FED meeting then up from there.
http://www.reuters.com/article/2015/11/12/us-g20-turkey-imf-idUSKCN0T11X...
The U.S. Federal Reserve should wait to see firm signs of rising inflation as well as a stronger labor market before hiking benchmark interest rates, an International Monetary Fund paper said on Thursday.
In a report prepared for the upcoming Group of 20 meeting in Turkey, IMF staff said spare economic capacity and very low inflation justified keeping monetary policy loose in most major advanced economies.
The contrast between rising U.S. rates and probable further easing in other developed countries was one risk overshadowing the global outlook, along with a shift in gears in China and an end to the commodities super cycle, the surveillance note said.
"The Federal Open Market Committee’s (FOMC) decision should remain data-dependent, with the first increase in the federal funds rate waiting until continued strength in the labor market is accompanied by firm signs of inflation rising steadily toward the Federal Reserve’s 2 percent medium-term inflation objective," said the note, which does not necessarily reflect the views of the Fund's executive board.
A Reuters poll published on Tuesday showed a 70 percent chance the U.S. central bank would raise its short-term lending rate at its Dec. 15-16 meeting, after a stronger-than-expected jobs report last week.
Policymakers, who have held benchmark overnight rates in a zero to 0.25 percent range since December 2008, are split over whether inflation is likely to rise from the current 1.3 percent under their preferred measure, which excludes food and energy.
IMF staff urged G20 nations to back China's efforts to liberalize its economy and accept that the transition to slower but more sustainable growth would likely involve some hiccups.
G20 leaders will have an in-depth discussion about migration at their Nov. 15-16 summit, and the IMF note said this was a pressing economic issue for both sending and receiving countries.
Increasing violence in the Middle East and Africa has driven waves of migrants into Europe, but neighboring countries such as Lebanon, Pakistan and Turkey are also struggling to cope with an influx of displaced people and need international support.
Upcoming IMF research showed that the costs associated with asylum seekers in the European Union could rise by a cumulative 0.15 percent of gross domestic product (GDP) in 2015–16 from 2014, the note said.
But since 80 percent of migrants were of working age, continued migration could offset population aging and cut age-related spending in advanced economies by 1 percent of GDP by 2050.
The note suggested host countries could increase the economic contribution from migrants by offering benefits such as permanent residence to those with in-demand skills.
https://www.imf.org/external/np/g20/pdf/2015/111515.pdf
Group of Twenty IMF Note — G-20 Finance Ministers and Central Bank Governors Meeting
IMF Note on Global Prospects and Policy Challenges
November 15-16, 2015