Pick any one of 10 difference reasons; does it really matter?
- Autumnal solstice
- End of quarter
- End of fiscal year
- Rosh Hashanah
- CALPERS beginning to liquidate hedge fund positions
- Curreny-related pressures
- Concern over weak earnings
- Weaker China growth
- Russia's asset seizure proposal
- EU growth concerns
- China's $10 in Biliion bogus trades
- QE taper
- Plain old valuation (nah, it's never that)
It is what it is. (Click chart to enlarge)
Small caps are definitely looking at the edge of a descending triangle. Long TWM was recommended on this chart.
As warned previously, SPX has now broken $1979. I have a sell signal in SPX. Instead of buy the dips, I will be selling the rips with cover stop (alert) above $2003.00. Be hedged or stay on the sidelines until after October 5th. Work on your watch list of names you would like to buy. Determine entry and exit points. It's about time we got more than a 2-3% pullback.
If the stronger dollar persists, this wi
