For the mystery of lawlessness is already at work. And the name of the lawless one will be revealed. Not everyone who calls to me saying, ‘Lord, Lord,’ will enter the kingdom of heaven, but only the ones who do the will of my Father. Many will say, ‘Lord, did we not prophesy in your name? Did we not drive out demons in your name? Did we not do mighty deeds in your name?’ Then I will declare to them solemnly, ‘I never knew you. Depart from me, you servants of lawlessness.'
Matthew 7:21-23
The equity markets are very short term oversold.
VIX is sky high. This Friday is the quad witching expiration for options. The McClellan Oscillator is in crash or rebound territory.
Stocks could breakdown and plunge, but its more likely we will get some sort of bounce and consolidation, that could last until the weekend or the next major financial default. We *might* see a major relief rally ahead of expiration.
