Buy Signal
12/27/2018
The major buy signal yesterday, December 26, came just as the market was breaking down, and the Dow made a 300-point reversal to the downside. I think I must take some credit for the turn. First, the market suffered its worst week of the year while I was on vacation and then enjoyed its greatest point gain ever since the day I came back and hosted my show on Fox Business - #CPEFFECT All kidding aside, I was filling in for Stuart Varney yesterday, and I had the pleasure of interviewing Kevin Hassett. I was a little tough on him, only because the stakes were too high for one of those interviews where we gabbed about the idyllic economy. The two big takeaways:
It’s also an interesting coincidence that the Dow Jones and S&P 500 both hit a 20% decline at intraday lows during the session. The rally dovetails with my opinion that this is a semi-replay of Black Monday, October 19, 1987. The market crashed, and then put in two strong sessions:
Charles Payne
More Articles by Charles Payne
Payne's Perspective: April 22, 2024: Goldilocks Was An Interloper Payne's Perspective: April 15, 2024: At Least Tax Season Is Over Payne's Perspective: April 8, 2024: Path For Totality of Wealth Add a Comment! |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|