Best of the Week
Most Popular
1.What Happened to the Stock Market Crash Experts Were Predicting - Sol_Palha
2.London Housing Market Property Bubble Vulnerable To Crash - GoldCore
3.The Plan to Control ALL Your Money is Now at Advanced Stage
4.Why Gold Is Set For An Epic Rally This Spring - James Burgess
5.MR ROBOT NHS Cyber Attack Hack - Why Israel, NSA, CIA and GCHQ are Culpable - Nadeem_Walayat
6.Emmanuel Macron and Banking Elite Win French Presidential Election 2017 - Nadeem_Walayat
7.Trend Lines Met, Technical's are Set - US Dollar is Ready to Rally (Elliott Wave Analysis) - Enda_Glynn
8.The Student Debt Servitude Sham - Gordon_T_Long
9.Czar Trump Fires Comey, Terminates Deep State FBI, CIA Director Next? - Nadeem_Walayat
10.UK Local Elections 2017 - Labour Blood Bath, UKIP Death, Tory June 8th Landslide - Nadeem_Walayat
Last 7 days
Rosenstein and Mueller: the Regime Change Tag-Team - 25th May 17
Stock Market Top - Are We There Yet? - 25th May 17
Should I Invest My Fortune in Gold? Inaugural Lecture by Dr Brian Lucey - 25th May 17
USD/CAD Continues Decline - 25th May 17
Bitcoin Price Goes Loco! Surges through $2,500 Despite Unclear Fork Issues - 25th May 17
The US-Saudi Arms Deal - Sordid Saudi Signals - 25th May 17
The No.1 Commodity Play In The World Today - 24th May 17
Marks and Spencer Profits Collapse, Latest Retailer Hit by Brexit Inflation Tsunami 2017 - 24th May 17
Why Online Trading Platforms Are Useful for Everyone - 24th May 17
The Stock Market Will Tank Hard - 24th May 17
It’s Better to Buy Gold & Silver When It DOESN’T Feel Good - 24th May 17
Global Warming - Saving Us From Us - 24th May 17
Stock Market Forecast for Next 3 Months - Video - 23rd May 17
Shale Oil & Gas Production Costs Spiral Higher As Monstrous Decline Rates Eat Into Cash Flows - 23rd May 17
The Only Metal Trump Wants More Than Gold - 23rd May 17
America's Southern Heritage is a Threat to the Deep State - 23rd May 17
Manchester Bombing - ISIS Islamic Terrorist Attack Attempt to Influence BrExit Election - 23rd May 17
What an America First Trade Policy Could Mean for the US Dollar - 22nd May 17
Gold and Sillver Markets - Silver Price Sharp Selloff - 22nd May - 22nd May 17
Stock Market Volatile C-Wave - 22nd May 17
Stock Market Trend Forecast and Fear Trading - 22nd May 17
US Dollar Cycle : Deep Dive - 21st May 17
Bitcoin Breaks the $2,000 Mark as Cryptocurrencies Continue to Explode Higher - 21st May 17
Stocks, Commodities and Gold Multi-Market Status - 21st May 17
Stock Market Day Trading Strategies and Brief 20th May 2017 - 21st May 17
DOW Needs to Rally Big or Correction is Next - 20th May 17
EURUSD reaches DO or DIE moment! - 20th May 17
How to Get FREE Walkers Crisps Multi-packs! £5 to £28k Pay Packet Promo - 20th May 17
UK BrExit General Election 2017 - Will Opinion Pollsters Finally Get it Right? - 19th May 17
Gold Mining Junior Stocks GDXJ 2017 Fundamentals - 19th May 17
If China Can Fund Infrastructure With Its Own Credit, So Can We - 19th May 17
Evidence That Stocks are More Overvalued than Ever - 19th May 17
Obamacare May Become Zombiecare In 2018 - 19th May 17
The End of Reflation? Implications for Gold - 19th May 17
Gold and Silver Trading Alert: New Important Technical Development - 19th May 17
Subversion And Constructive Synthesis Of Capitalism And Socialism - 18th May 17
Silver: Train Leaving Station Soon! - 18th May 17
Credit and Volatility Signal That Financial Conditions Are Very Overheated - 18th May 17
Another Stock Market "Minsky Moment" or Will the Markets Calm Down? - 18th May 17
WannaCry Ransomware Virus Is a Globalist False Flag Attack On Bitcoin - 18th May 17
Euro, Stocks, Gold Momentum Extremes All Round! - 18th May 17
US Stock Market Slumps on Establishment / CIA Trump Impeachment Coup Plan - 18th May 17
Tory Landslide, Labour Bloodbath - Will Opinion Pollsters Finally Get a UK Election Right? - 17th May 17
The stock market sectors which are breaking out in 2017 - 17th May 17
A ‘Must-See’ Chart for Gold and Silver Aficionados  - 17th May 17
Will the SPX Stock Market Final Surge Fail to Appear? - 16th May 17
Claim your FREE copy of Jim Rickards’ explosive book - 16th May 17
GOP Establishment Elite Plots Trump Removal - 16th May 17
Walkers Crisps Pay Packet Cheats, Shoplifters and Staff Conning Customers - 16th May 17

Market Oracle FREE Newsletter

Why 95% of Traders Fail

YAWN......VIX Lower...Beta Lower.... Stock Market To Nowhere...

Stock-Markets / Stock Markets 2016 Mar 29, 2016 - 09:27 AM GMT

By: Jack_Steiman

Stock-Markets

The emotions run high as it seems something special is about to happen, only to see it disappear in a puff of sadness. It looks like the market is about to rock, but it doesn't. You say to me, but it has run up already. I say, but to where? It goes nowhere in the end. Nothing sustainable. We rise. We get overbought. We pull back. We rise, and then see negative divergences, and then fall again. It goes nowhere in the big picture. Today was incredibly boring simply because beta, volatility, if you will, is leaving the ball park. Taking a vacation as the lower VIX readings are taking over, even though the VIX was up today. Oh how many long for the days of VIX readings in the upper 20's or lower 30's. Then we'd see 100-point moves on the Nasdaq as routine.


Now it's a third of that. And with the market being mindless and going nowhere it's a real turn off for the masses. I get it, but it's no fun, and that's just the way it is, so today was a boring day with almost no volume. They may start piling up in the weeks ahead, so be prepared. If you're in plays long you don't want to sell unless the S&P 500 loses strong support at 2000. If you're short, you don't want to cover unless the S&P 500 takes out 2044 with force. A close over 2056 preferably, or the last high. Whipsaw is likely to remain the game we play and see on a daily basis, but in smaller chunks. Still nowhere as the market decides whether it wants to play on truth, or remain in the land of fantasy. Sadly, one day at a time as the market is giving no clues about its ultimate next bigger move one way or the other. It's keeping us all guessing by doing nothing. How much fun is that!

This morning we got more bad news on the economic front as we saw consumer spending slow down yet again. No worries. Market doesn't care. It also saw wages fall. No worries. Market doesn't care. Inflation lower. Market doesn't care. GDP could be hit to the down side. Market doesn't care. All any of this means is say goodbye to the possibility of rates moving higher. Oh, ok. That means all is fine. Disneyland back in form. Bad news is good news. No matter what supposed good news goes right for the bears they can't seem to get any satisfaction. The Rolling Stones would be proud. Just no satisfaction, although they try.

The bears are stuck as all the market bulls are focused on is whether fed Yellen will be there to protect and comfort. Poor babies need comforting. No worries. They'll get it in spades. As much as they could ever need. So yes, the bulls dodged another bullet today. They should have gotten smoked based on truth. In a bear market we would have seen some large losses across the board today. Not to be. Maybe we can get a day or two of selling in here. Only when the bears can remove S&P 500 2000 should the bulls have any concerns that may last for more than five minutes. It's a different game now, folks. The market is no longer the market we used to know. Those days are dead and gone. What we have now is a market run by the few for the masses.

Fed Yellen speaks tomorrow at 11:30 A.M. Eastern Time, and, of course, every single nauseating word will be picked apart by all the market participants. I am most certain that the one thing she won't do is hint towards rising rates. She wouldn't want the market to go down based on words out of her mouth. She'll remain dovish until the election is over and then maybe hit the market over the head with rate hike cycle, but that remains to be seen. It'll be yet another interesting day tomorrow to see how much control she has over everything. More than we'd like I'm sure. For now, just use S&P 500 2080 and 2000 as your key levels to watch in the weeks ahead.

Jack

Jack Steiman is author of SwingTradeOnline.com ( www.swingtradeonline.com ). Former columnist for TheStreet.com, Jack is renowned for calling major shifts in the market, including the market bottom in mid-2002 and the market top in October 2007.

Sign up for a Free 15-Day Trial to SwingTradeOnline.com!

© 2016 SwingTradeOnline.com

Mr. Steiman's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Steiman's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions.


© 2005-2016 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife