It is always tough to draw any conclusions from futures, but it looks like we may recover at least some of yesterday’s sell off.
Traders should watch yesterday’s lows if the markets roll over.
UPDATE: Dow futures now +600
click for updated futures
Bounceback !
No one could have prredicted this….
The correction didn’t even last a nanosecond this time. More like a picosecond.
The “markets will not be allowed to fall” narrative is still very much intact.
Yes, as Barry says “we may recover at least some of yesterday’s sell off.” Today.
Three thoughts:
1. Try to find a daily chart from Sept-Dec 2008 with the dates of Fed actions superimposed.
2. The US markets rally on Chinese Central Bank news: yes, definitely it’s all about the “US fundamentals.”
3. The US markets rally on Chinese Central Bank news: but…. but Janet Yellen says that international events play but a tiny part in the Fed’s decisions about the US interest rates. So the “lift off” in “on” again, or the Fed’s back to “they know nothing?”
Yes nobody could have predicted….. I am glad I rebalanced yesterday rather than today. At least I am glad today – and who cares about tomorrow.
Well that was a short rally. Looks like the PPT has to get back into practice.
http://www.marketwatch.com/story/wall-street-set-to-rebound-after-massive-selloff-futures-rally-3-2015-08-25?dist=afterbell
Indeed, a surprising intraday reversal. I wonder which central bank will try to prop it up next.
Hardly Surprising at all . . .
Thank goodness for the steady leadership provided by McConnell, Boehner and the snowball throwing James Inhofe threw Obama’s crisis. Without these Anchor Daddies, we would be without the moral compass this country needs.
And speaking of anchors, you might want to call Trent Lott back. He can drag an anchor with the best of them.
Oops. Dow up 400 in the morning, down 200 at closing. More adventures to come, perhaps?
Damn I missed the bounce again!