Gary’s midday notes!

Since we are getting quite a few emails today, we thought we would answer the big question everyone is asking.

General Hospital hasn’t even started yet and the markets are again rebounding from another ugly open. We continue to think August lows are going to hold for now. Markets did a good job of holding yesterday and as we write this, markets are rebounding again today. We have no clue how they finish today. We just don’t think they will break it so easily. The boys know a break of the lows will invite some more serious selling as well as another bout of margin selling. At that point, the rest of Wall Street would have to start using the words “bear market’ as a few indices would be down 20%-plus.

If one wants to know why we would hold at this point or even rally from here, look no further than our hash tag we use for every one of our market tweets and that being #easymoney. Markets now recognize there will be no rate hike (told you) and gather if the numbers worsen, we will indeed hear the talk of QE4.(remains to be seen)

Stay tuned! What has already been bumpy gonna get bumpier, both up and down! The trees would be any hold here and any bounce. The forest is that the tape is a mess. There remains hardly any leadership…no new highs…all major indices and all countries below short, intermediate and long term moving averages and resistance. And again, if at any point the major indices take out the August lows, get the pitchforks.