Today the S&P 500 gapped down, but then recovered to close at an intraday high, showing that bargain hunters are still active. So is the selloff over? I don’t think so. I’m anticipating more down days as a second wave of COVID crests ahead of the November presidential election drama. The downturn will likely continueContinue reading “Markets have been selling off for four straight weeks.”
Tag Archives: Market Selloff
Sky is falling along with OIL
Saudi Arabia kicked off an Oil price war in retaliation for Russia not supporting further production cuts. Oil dropped to nearly $27/barrel before settling around $31. This is the hardest drop in Oil since the commodity collapse of Feb 2016. (see chart) The S&P 500 broke below its 2 year moving average and so farContinue reading “Sky is falling along with OIL”