Failed Rally

[Kendall]

There is nothing worse than this if your a Bull. This is going to head right back the other way as everybody who bought yesterday is going to get trapped. Many will throw in the towel. Sell the rallies in Bear Markets.

 

[makloda]

What rally was there recently? I didn't see one.

 

[Aaron Copland]

Yep, the message from the market is, ZERO confidence in the Fed.

 

[gobar]

fed will lower another 50 bps today @ 9.20 AM



fed thinks they r behind the curve...

 

[Kendall]

500 points off the low from yesterday. That's a rally back to unchanged almost. That's a massive hammer on the daily charts. That's a similar pattern to August 16th. That's what everybody was hanging their hats on TV last night. That's what Asia was hanging on last night.

Those lows appear as if they will be tested before there is any move up. That's another 3-4% down.

 

[shortie]

YM -240 @11700

 

[makloda]

Quote from Kendall:
500 points off the low from yesterday. That's a rally back to unchanged almost.

To unchanged.. for the day? lol. Look at a weekly chart, as I said I don't see any rally recently.

 

[shortie]

Just picture Ben staring at the screen as the futures are dropping like a rock one day after the biggest rate cut in 20+ years.
YM -300pts now