It’s another “big day” in the market and with the entire financial world sitting on their hands until 2:00 EST, I thought I’d post a couple of charts to mull over.
I think it’s pretty obvious that equities are, shall we say, a bit long in the tooth. There’s no law saying they won’t get even toothier. Experience has shown the initial reaction (indeed, the reaction until Thursday morning) isn’t necessarily the medium-term direction of the market. Expect spasms galore.
DIA
I’ve sort of given up on Brazil’s equity market weakening, but for the daring, I’d like to point out this ultrashort ETF based on Brazil, which has been hammered down mercilessly, as indicated by both Bollinger® and RSI.
BZQ
Question: What woman has the focused attention of millions of men around the world today?
Answer: No one is even surprised anymore.
