Did I miss a news story?

Quote from FerdinandAlx:

You could see the market turn in anything from oil and the USD to equities. I was also reading some large blocks of trades being dumped on a number of commodity stocks before the broader markets turned.

This is not a news driven event, it's the new dominant trend taking shape after the bull retrace reversed. Since I'm seeing this across all asset classes I'm going to assume this trend is a continuation of the deflationary trend we had between September '08 and March '09.

Agree. I still need ES to touch 1175 at the very least. 1200 would be better still. But it doesn't matter.
 
Quote from scriabinop23:

Either this is a great buying opportunity...

...or we've hit top.

Funny, that's always what the two choices are.

Sort of like always finding a lost object in the last place you look.
 
Quote from jficquette:

Sort of like always finding a lost object in the last place you look.

Sort of like finding a margin call...in your hand. :)
 
You generally do not get a 137K+ (preceeded by 2 other 100K+ bars) bar on the ES (5min) without news or some sort of fat finger, but it does happen sometimes for no "apparent" reason other than normal activity.

Quote from focusonmoney:

The market doesnt need news for it to sell off...
 
China tightening
Greece
Sell-the-news on financials

and now this:

http://www.zerohedge.com/article/game-over-ben-game-over

and this:

From Dow Jones:

WASHINGTON (Dow Jones)--The U.S. Senate is "unlikely" to hold a confirmation vote on Federal Reserve Chairman Ben Bernanke's second term at the helm of the central bank, a senior Democratic leadership aide said Thursday.

Earlier this week, leadership aides said it was possible lawmakers would seek to vote on Bernanke's confirmation on Friday, but that now seems doubtful, the aide said.

The Fed chief's four year-term ends on Jan. 31. It is unclear what would happen if the Senate fails to approves him for a second term before then.

Bernanke is widely expected to be confirmed once a vote is held, but there are a handful of lawmakers preventing the Senate from moving directly to a vote. One of those, Sen. Bernie Sanders, a Vermont Independent who generally votes with the Democratic majority, is pressing for President Barack Obama to withdraw Bernanke's nomination and select another candidate to lead the Fed.
 
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