THE CLOSE
To the shock of most- the markets closed at/near the lows as the markets were weak all day.
VIX higher by almost 25% at/near 68.5 while gold was down about $50 - silver down about a buck and the 10 year trading at 2.72% - the lowest rate in over 50 years.
Oil down about $5.6 at/near 48.85 and nat gas higher at $6.52.
RSI (2) levels at/near 20 on the major indexes and tomorrow is Tuesday-not ready to buy but probably around 10 may be a good time to step in for a short term flip- say VIX 75/80-
Finally, the recession appears to have started last December and now we are about 12 months through- so if its a two year recession (very bad) do we turn half way through (now) are a bit later? My guess is the lows of 7500 on the DJIA and 740 on the SPX get tested in this bottoming process- but broken big- I doubt it.
posted by DAVID at
5:08 PM
2 Comments:
"...7500 on the DJIA and 740 on the SPX get tested in this bottoming process- but broken big- I doubt it"
Not if we are going to have a depression! Greater Depression (worst then last great depression) so we call it... :) From 1930-1932, $SPX drop almost 10 folds, so we might get to 150 on $SPX this time!
Maybe it will go negative!!!!!
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