Is what everybody 'knows' worth knowing?
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Currently, the vast majority of market participants worship at the shrine of the Fed.
Any authoritative stab back below the May high of 1687 could indicate a test failure of the May high.
Has the market already fully discounted a taper in September?
They say one day doesn't define a trend. I'm not so sure.
A break below S&P 1650 should see downside acceleration.
They say the most ferocious rallies occur in the midst of bear markets.
Markets always do what they're supposed to -- but never when.