S&P 500 Flashing Red Warning Sign on Aborted Rally

February 22, 2022

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6:36 pm

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14 comments

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Economics

S&P 500 chart courtesy of StockCharts.Com

That’s a big flashing warning in my estimation. This Tweet captures the moment.

$SPX is now positive but the $VIX is +1.40. This is typically a big flashing yellow light. Be very, very cautious today.https://t.co/maIeV4zEiu https://t.co/u7RwuFv1hV

— Randy Frederick (@RFrederickMedia) February 22, 2022

Alleged Reason for Rally

Here is why the market has rallied violently: pic.twitter.com/9Rr0BZd7Ma

— Dougie Kass (@DougKass) February 22, 2022

This Morning 2:30 AM

I don’t know. https://t.co/Vd7jToWVXb

— Dougie Kass (@DougKass) February 22, 2022

Bears should root for the gap down to close tomorrow then collapse as soon as it does.

— Mike “Mish” Shedlock (@MishGEA) February 22, 2022

“Hells bells, green tomorrow would not surprise me much. But I do not think would hold long. For the week, red”

“Bears should root for the gap down to close tomorrow then collapse as soon as it does.“

And here we are. The day is not over but this does not look pretty, no matter what the close.

This post originated on MishTalk.Com.

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14 Comments

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Christoball

2 years ago

During a correction, already weak markets get plausible denial from international incidents.

shamrock

2 years ago

How does this mesh with your previously stated beliefs that “all gaps will fill”? If so any price below this gap down is a buying opportunity.

Mish

2 years ago

Reply to shamrock

I do not believe I said “all gaps fill”.

If I did, I did not mean to.

Certainly most gaps fill, and some of them take years.

Breakaway gaps may never fill. I did not check but I bet there may be some on Amazon or Apple far below.

I pointed out gaps on Tesla that are years old.

The trend now is clearly down. So look for gaps below to fill.

I did not want to see stacked gaps today and that rally to the green was a very bad indicator for the bulls.

BTW there is no open gap down today on the S&P or Nasdaq – It closed

There may be some on individual issues

Robbyrob

2 years ago

Six-language coverage from https://twitter.com/hashtag/Kyiv?src=hash&ref_src=twsrc%5Etfw with link to twitter.com. In this order: English, Luxembourgish, Spanish, Portuguese, French, and German. link to t.co

Doug78

2 years ago

Economists and Sociologist.

link to smbc-comics.com

Doug78

2 years ago

Xi is too prudent to follow Putin. He will wait to see how it goes first.

Tony Bennett

2 years ago

Another curve flattening day in bond market.

Bam_Man

2 years ago

An awful lot of phantom “wealth” now going up in smoke on a near daily basis.

Tony Bennett

2 years ago

Reply to Bam_Man

Financial advisors phones are blowing up … as they look for a hole to jump in …

Tony Bennett

2 years ago

China circling the drain picking up speed.

Residential property (and developers) continue to worsen. Renewed effort to take down tech (Jack Ma).

It wouldn’t surprise me if Xi made move on Taiwan. US reaction to Ukraine will be studied closely.

Doug78

2 years ago

One can’t really expect the markets to go up when we are in the beginning of the most unstable period since the 1980’s. It will take a bit of time for the markets to get their feet.

honestcreditguy

2 years ago

Reply to Doug78

depends on sector

KidHorn

2 years ago

Without a continuation of QE and rising interest rates, I don’t see how the market can go up. Where will the money come from?

Esclaro

2 years ago

Reply to KidHorn

Don’t worry, pal, Putin will make everything all right.

S&P 500 Flashing Red Warning Sign on Aborted Rally

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