Stocks were risk on today, bouncing off support.
Although it seemed like that brisk feeling of defying the potential dangers of a faltering world order and wobbly economies in order to chase a bit of short term return faded a bit into the close.
The underpinnings of the market are weak, because the time horizon of most of the daily holders of stocks can be measured in seconds.
So on an 'exit-provoking' event, we can expect stocks to do a melt down that could be fairly impressive. Perhaps not nearly as impressive as in 1987, but it might seem that way to those whose market memory only goes back to 2002.
Have a pleasant evening.
