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I keep seeing these headlines, DOW rises 700 points erases losses from last week. Uh no, we still have a long way to go to erase last weeks losses. DIA weekly chart below. The overnight gap made up 1/2 of todays gains...

Not the surge in volume like the last reaction low. The last reaction led to some pretty good upside. It is end of Q1.

SPY volume.

Hum, volume looking average. This is end of quarter window dressing.

I like wide range bound trading environments.

Those are not closing lows.

I believe this correction is a good thing, takes a lot of excesses out of the markets. However I just don't see the fundamentals in place to create a bear market, not yet anyway. Earnings will prove my point. Is it wise to take profits after such a long run, absolutely.

This drop is nothing, when you step back. If we are transitioning from bull to bear this may take 18 months. Looking for an inverted yield curve then if history is any guide another year before we really roll over. Technically we are still in a bull market.

Perhaps you meant 24020

Well this is not looking good....24000 is a giant magnet pulling it down.

Pffttt...... BORING!

My farewell to the 9 year bull market...rest in piece,

The market is trying to get a reaction from Powel. If he plays down the markets sudden weakness expects more selling.

Fed is not reducing its balance sheet. They are still knee deep in this market. https://www.newyorkfed.org/markets/soma/sysopen_accholdings.html

You know the drill buy the cash close make free money from the overnight ramp up in index futures.

Rally into the close today

I love the ignore feature.

The easiest trade there is. The overnight rally in stock index futures.