Selling continues.....

Indices are in freefall.....

Too many negatives to get inflow

Range bound market is @ low end of range and ready to breakdown.

News is negative on many front....

Fed not as supportive as needed...

IF Fed react on Monday...then we may have temporary relief but it may not sustain.

Trade fiasco between US & China is completely in neverland.....30% tariff is insanity when 4% was the norm on imports in USA....

Inverted yield is giving repeat signal that all is not well in US economy, but it is being ignored by Fed & US administration.....a recipe for further selling in equities...

Russell 2000 already closed @ low.....small caps are the backbone of economy, IF they go down first other indices will follow....

SOX is flashing trouble sign with Chinese exposure, IF they go down further Nasdaq will tank....

Great earnings reports have lost all the gains....GOOG CRM comes to mind......

SO...we all wait for Indices to flush out last holdouts ......

This selling climax may not resolve all the issues only Fed may see the light by jumping in with a cut in Fed funds rates.....

Good luck with your own analysis and comfort level with this crazy turn of events....

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed