As a no-extra-charge bonus, here is some international perspective from Louise Yamada.
Bottom line: We're in a world of hurt.
.
Tuesday, August 16, 2011
Tuesday's Market
The DJI and SP500 both gapped down at the opening, slipped a bit further, then vacillated around the early low for the rest of the day. More sideways action, but now with a negative twist. Closes were off .67% for DJI and .97% for the SP500. Trading range for the latter was neatly contained within the support/resistance lines I sketched yesterday. In fact, today's range and yesterday's are nearly identical. But yesterday's action was in the top half of the range,while today's mostly wrapped around the middle and slanted down. Everything, including oil and precious metals, was down today. The only exceptions were Treasury issues, which are moving counter to stocks.
As a no-extra-charge bonus, here is some international perspective from Louise Yamada.
Bottom line: We're in a world of hurt.
.
As a no-extra-charge bonus, here is some international perspective from Louise Yamada.
Bottom line: We're in a world of hurt.
.
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2 comments:
Hi, Jazz... I have the impression that when Quantitative Easing created pressures, the economy let off steam by sending asset values (and stock values) up. Did you ever look at correlations between QE and the Dow?
Art -
No, I didn't. Never even thought about it.
Hmmmmmm . . .
Cheers!
JzB
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