Markets not cooperating!

Maybe it was the Jewish holiday. Maybe it was the Pope. Maybe it is the pinched nerve in my neck. Wednesday’s action was another blah day. When the markets are in trouble, when the markets have recently sold off again and when the markets are a little bit oversold, one would at least expect some energy to the upside. Nothing doing. And when there is nothing doing, it tells us lower prices have still not enticed the big boys, thus even lower prices are in the offing. Do keep in mind we are now in the midst of the end of month and more importantly, end of quarter window dressing. Of course, window dressing is illegal and does not happen.

All major indices, sectors, countries and the NY Giants remain below short,intermediate and long term support/moving averages. A break below the scam August 24th lows will finally get some people off the fence recognizing what we have known for a long while and that this is not just a correction in a bull market that will be saved by another maniacal central bank move.  And if last week’s nonsense by the fed in where they changed their stance AFTER they voted 9-1 not to raise rates in order to get markets to cooperate…is any indication of things to come, then we have a market that finally doesn’t give a crap about what the fed says or does at this point…and not thinking that is good news.

Lastly, weeks ago, we told you, our radio audience and viewers on Fox Business(if you don’t get it, demand it) that this market was now telegraphing major slowdowns or recessions. After all, how can the transports go down while oil prices have crashed if everything is just fine. We are just letting you know we are now starting to see some of those data points and expect things to worsen in the weeks/months ahead. QE4 anyone?