WTF!!!!!!! Major Dump

Market is doing the exact opposite of what the majority thinks at a given time. This is a strong indication that the market is rigged that way. Bonds are rallying because debt increases, this is crazy. The opposite should happen. Dollar sharply higher and stocks down. The opposite should happen.
 
Quote from abattia:

US ISM Manufacturing (Jul) M/M 50.9 vs. Exp. 55.0 (Prev. 55.3)
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this is not the reason for the drop. if you think so, you are in the wrong business.
 
forget the expect the unexpected stuff. the market just told us very loudly that its not about the debt deal, its about a potential debt downgrade and the slow economy.
if it was just the debt deal, we would have continued to rally.
 
I was trading the Yen. Huge drop preceded the market drop, all slightly before 10am.

My guess is debt deal not as done of a deal as Obama would have you believe.
 
Quote from NY_HOOD:

forget the expect the unexpected stuff. the market just told us very loudly that its not about the debt deal, its about a potential debt downgrade and the slow economy.
if it was just the debt deal, we would have continued to rally.
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there is not much of the deal to begin with..
 
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