Stocks swooned again in the morning, and caught algo-driven dead cat bounce, lacking somewhat in conviction of volumes, in the afternoon.
Stocks globally are in a bear trend, and I do not think we have seen the bottom of this yet, although we are probably closer to that than we are to the beginnings of this back in December when Santa Claus failed to show up, or at least his proxy Bad Santa did in his stead.
After the bell the news was lousy on corporate performance, excepting for a few bells and whistles.
I was a little surprised to learn that even though she lost the New Hampshire Primary in a landslide, Hillary will be getting the same number of delegates as Bernie Sanders. The public only gets so many delegates it seems, and the Party reserves a substantial number of 'super-delegates' for themselves, largely insiders who are all pledging themselves loyal to the brand Clinton money machine.
Speaking of which, Hillary and Bernie will be having another 'debate' this evening, with about sixteen tons of prime baloney being prepared for the viewing public. Could MSNBC be any more in the bag for Hillary? And they talk about Fox, which is licking its wounds, or something like that, with their fall from grace in their inability to anoint the GOP contender to the throne. Something about bonfire of the vanities.
We may seem some more mucking around here, looking for a bottom. No, not in public morals and political decency, in the stock markets you cynic!
The charts are fairly straightforward about what needs to happen, especially the SP 500 futures which have the advantage of capturing the overnight sentiment while the cash markets are doing lines at Scores.
Have a pleasant evening.