15 August 2013

SP 500 and NDX Futures Daily Charts - Who Let the Bears Out?

Stocks took the gas pipe today, suffering their biggest one day drop of the summer after yesterday's decline.

And the guest expert on Bloomberg TV opined that this was because of fresh fears of tapering in September. Even though today's economic data was rather weak.

'Oh I see,' one lone voice chimed in. 'Then why isn't the dollar rallying?'

To which the expert replied, 'Duh, I don't know. That concerns me.'

More on this in the gold and silver commentary tonight.