get ready for hell!
today’s bounce off the lows turns out to be among the most desperate and pathetic moves since the October high…absolutely terrible… $SPX #ES_F
Charts coming
— mcm-ct.com (@mcm_ct) December 10, 2018
This was a bad day imo – bad for risk. This stuff imo actually will intensify the coming drop https://t.co/KYk0W7xXtf
— mcm-ct.com (@mcm_ct) December 10, 2018
For the first time in over 20 years, $SPX saw a Monday with a -1.89% midday draw down and a green finish.
Here's every other Monday since the index began in 1923 like that.
While the rest of the week(s) saw decent draw downs, 72% of the next-four-days were positive. pic.twitter.com/6SCXr4xpyz
— OddStats (@OddStats) December 10, 2018
Now even JP Morgan puts the odds of the U.S. economy entering a recession during the next 2 years at 70%. That would also put the odds of Trump winning a second term at 30%. I think the odds are closer to zero. If so, you can say goodbye to the tax cuts and hello to socialism.
— Peter Schiff (@PeterSchiff) December 10, 2018
Recession math: 3% growth is starting point. Then lop off 1% from negative wealth effect, 1% from Fed tightening lags, 1% from fiscal withdrawal and 0.5% from corporate deleveraging. Voila! Les jeux sont fait!
— David Rosenberg (@EconguyRosie) December 10, 2018