"Any fool can believe the truth. It takes a genius to believe a palpable lie."
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When there are a cluster of these relationships, as there are currently, the likelihood of something major playing out is greater.
Currently, the vast majority of market participants worship at the shrine of the Fed.
Five consecutive losing days is a rare bird historically on the Dow, so the normal expectation would be for a rally attempt.
The 2013 advance has been backstopped by the Fed at every twist and turn.
Today looks like a big day. It will either be a big down-day or be a big-down, opening reversal.
It looks like a break below 1,698 will be a first sign of great expectations not materializing.
Any authoritative stab back below the May high of 1687 could indicate a test failure of the May high.