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murchr
#4121 Posted : Monday, February 03, 2014 11:04:23 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
The US stocks market taking a hit. Dow down 300 points and S&P in the red too down 39points.
Financial Times wrote:

Weak US manufacturing data and a new warning about the federal debt ceiling shook financial markets on Monday underlining the enduring risks to the world’s largest economy in 2014.
The S&P 500 closed down 2.3 per cent at 1741.89, taking its fall since the start of the year to 5.8 per cent, after a sharp fall in the manufacturing ISM index from 56.5 in December to 51.3 in January, a level consistent with only modest growth in output.

Markets also had a reminder about dangers from fiscal policy as Jack Lew, the US Treasury secretary, issued an urgent call for Congress to raise the debt ceiling by the end of the month.

10 yr treasuries fell to 2.57% a rate last seen in Oct. I expect more circus esp where congress is involved
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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hisah
#4122 Posted : Tuesday, February 04, 2014 5:53:55 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
murchr wrote:
The US stocks market taking a hit. Dow down 300 points and S&P in the red too down 39points.
Financial Times wrote:

Weak US manufacturing data and a new warning about the federal debt ceiling shook financial markets on Monday underlining the enduring risks to the world’s largest economy in 2014.
The S&P 500 closed down 2.3 per cent at 1741.89, taking its fall since the start of the year to 5.8 per cent, after a sharp fall in the manufacturing ISM index from 56.5 in December to 51.3 in January, a level consistent with only modest growth in output.

Markets also had a reminder about dangers from fiscal policy as Jack Lew, the US Treasury secretary, issued an urgent call for Congress to raise the debt ceiling by the end of the month.

10 yr treasuries fell to 2.57% a rate last seen in Oct. I expect more circus esp where congress is involved

Bond market is the tape and its been throwing fits for weeks now... TA on nikkei and now S&P shows support levels caving in hinting trend change.

In euroland another cyprus is waiting... Ireland returns.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#4123 Posted : Tuesday, February 04, 2014 6:17:47 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Quote:
The S&P 500 settled at 1,741 on Monday, its lowest close in more than three months. In fact, it was the worst start to February for the Nasdaq on record, and the worst for the S&P since 1933 and 1982 for the Dow.


Welcome to volatility. We're yet to get to ulcers central...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#4124 Posted : Tuesday, February 04, 2014 6:29:38 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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hisah
#4125 Posted : Tuesday, February 04, 2014 6:35:33 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
murchr wrote:
Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch.

Actually nikkei is back to May 2013 levels. Abenomics QE boost erased... This nikkei selloff looks concerning esp how swiftly it has slid.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#4126 Posted : Tuesday, February 04, 2014 6:55:26 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
hisah wrote:
murchr wrote:
Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch.

Actually nikkei is back to May 2013 levels. Abenomics QE boost erased... This nikkei selloff looks concerning esp how swiftly it has slid.


This is going to be one interesting day once this is day is over 400+ points down now
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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hisah
#4127 Posted : Tuesday, February 04, 2014 6:28:19 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
murchr wrote:
hisah wrote:
murchr wrote:
Happening right now...the Nikkei 225 is down 300+ points a three month low, a mirror of what happened in the Dow Jones Tue. The American economy is currently fueled by oil (fracking). It will be interesting to watch the kind of fever Europe will catch.

Actually nikkei is back to May 2013 levels. Abenomics QE boost erased... This nikkei selloff looks concerning esp how swiftly it has slid.


This is going to be one interesting day once this is day is over 400+ points down now

Quote:
The broader Topix index tumbled 4.8 percent to 1,139.27, with 4.233 billion shares changing hands, the highest since June 2013.


Capitulation volatility. Ulcers soon on the next down move.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#4128 Posted : Tuesday, February 04, 2014 7:29:47 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Its a green day today though very weak the tables can turn anytime
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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mnandii
#4129 Posted : Wednesday, February 05, 2014 9:08:49 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
It is quite interesting how the global market indices are aligned with the currencies as well as our NSE.

We are in a bear market rally, a bull trap. Expect the next sell off early next week.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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hisah
#4130 Posted : Wednesday, February 05, 2014 3:36:11 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Btw just noted that the long term bull uptrend for S&P is still intact despite the selling bout. 200SMA around 1708 while bull trend line around 1650. If those levels are smashed with aplomb then that will definitely signal a trend shift in favour of the bears.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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