There’s no great reason for the massacre in stock markets.
If it was just one day of wild moves, the bulls could digest it but the past 7 sessions have been as volatile as any since the crisis-era.
The most important thing is whether yesterday’s low of 1925 holds but even if it does, these kind of moves encourage people to head to the sidelines.
S&P 500 – 2 hr
The list of worries that are weighing:
- New protests planned in Hong Kong
- ISIS
- ISIS fighting near Turkish border
- Chatter about new ebola cases near Paris
- Ichan was on CNBC saying he’s shorting stocks
- Pre-earnings fear
Ultimately, I think that an improving US economy wins out and that the Fed staying dovish is good news but these are the kind of days that spook bulls.
