What Are We Missing?

There are obviously a lot of things gnawing at the market and while the Fed and trade get all the attention, it has been my experience there are often things lurking about that nobody’s talking about.  Later, the experts call those things Black Swans and excuse their own lack of diligence, or preparation, because nobody can predict Black Swans.

I don’t think I’m missing anything and have pointed out issues, like the strong dollar, having a more detrimental effect on corporate income statements (Apple’s guidance included a $2.0 billion revenue hit from the dollar) and a weak global economy.  China’s economy is as big an issue for the stock market as the trade battle.

I think we are in a wild period of unknowns, with powerful forces that have powerful tools pressuring the market, perhaps trying to influence the Federal Reserve and the White House.

Lack of Leadership

• Apple (AAPL) fetched another downgrade
• Goldman (GS) is breaking down drastically
• The market needs leadership

What happens when these numbers are taken out?

The market will make a major move in either direction, but until then we can expected wild gyrations within this established range.    I think these established technical parameters have set the market up for the next big move.