S&P Plunges Through Critical Technical Support, Nasdaq Negative For Year

All major equity indices are now red for 2018 as Nasdaq just broke down...

 

 

and S&P 500 broke below its 200DMA...

 

Will it bounce or hold?

Comments

hobopants Dr. Engali Fri, 04/06/2018 - 15:21 Permalink

This! Everyone flipping their shit that the market is going to tank, when the Fed has the fucker on puppet strings.

It's been Charlie Brown vs the football for almost a decade and everyone is still waiting for "The big one". 

That ship has sailed, if we were too big to fail in 08 then what are we now? They aren't letting this system go, not when they can print all the bad away.

 

 

In reply to by Dr. Engali

WarPony Fri, 04/06/2018 - 14:55 Permalink

Can't make this shit up:

US Markets close in 1 hr and 10 mins

S&P 500.

2,596.16

-66.68(-2.50%)

DOW 30

23,838.43

-666.79(-2.72%)

 ... mark o da Beast

 

adr Fri, 04/06/2018 - 14:57 Permalink

Hilarious how Tesla goes up $50 in two days on no real news about its business and then drops $15 on no real news about its business.

Of course the drops are never as big as the pops, just like oil.

 

And we're still to believe that this market is real?

richsob Fri, 04/06/2018 - 15:15 Permalink

I bought SH way too early.  Gotta hope this trend continues and I can get back into the green.  Shitty thing to say maybe, but at least I'm honest.  :/

franzpick Fri, 04/06/2018 - 16:10 Permalink

Yesterday's upside run was nothing more than the 2nd lower high in the new bear market, and today's drop starts the move to the 2nd lower low, setting the down channel which at today's pace could end this leg down by Mon-Tue, 3% lower at DJIA 23000 and SPX 2500. Or not, namely lower.

FredFlintstone Fri, 04/06/2018 - 16:11 Permalink

I like how they started hiding the markets on Bloomberg. You used to go to the front page and see the NASDAQ and the DOW up across the top. Once they cratered in the GFC, they buried them. You have to go a few pages to see the embarrassingly bloated NASDAQ of nearly 7,000. Having markets this over-valued must be as embarrassing to TPTB as the Queen of England having to meet the in-laws as the upcoming wedding.