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Another bear flag breakdown for the Transports. 2008 was a long time ago, and if you've forgotten what bear market action looks like, look no further...

081215a.gif



The Dow is just about there, but the S&P 500 has not come close yet. Is it just a matter of time? Could be, but remember that China's devaluation should affect the larger multinational companies more, once the dust settles, so we may actually see the small caps outperforming again, although there is certainly going to be some contagion.
 
It's interesting that the dollar is down sharply and commodities are up. Day two of the yuan devaluation isn't having the same impact on them as yesterday. Stock investors are usually the most emotional and it takes them a little more time to readjust.
 
tsptalk said:
It's interesting that the dollar is down sharply and commodities are up. Day two of the yuan devaluation isn't having the same impact on them as yesterday. Stock investors are usually the most emotional and it takes them a little more time to readjust.
Click to expand...

Regarding your first point: Yeah, either there's some things the talking head don't understand; or there's manipulation.?:blink: No matter, as long as it's tradable.
 
tsptalk said:
It's interesting that the dollar is down sharply and commodities are up...
Click to expand...

Just a follow-up, the dollar is still down but wheat, corn and soybeans just dumped for some reason after being up all morning. Big losses... 3% to 6%.
 
The TSP is a little late with the share prices today. Tough call on the I-fund share price, I bet. The EAFE was down 1.22% but how much fair value is needed?
 
Not trying to jinx it, but wow, you're pretty spot-on in your daily commentary about the potential for a weak start after yesterday (covering shorts, etc.). Don't know where it'll close, but after the shellacking we took the past two days, it just feels not seeing it down over 1% at the start.

Alright, onward into the rest of August...
 
Has anything happened since that last post? :rolleyes: :eek:

Small caps are kind of interesting today. Looking at the Russell 2000 futures, first they were lagging (as far as a comparison to the S&P 500 futures), then they shot up to start to lead, now they are fading a bit by comparison. Overall nice day, but interesting action.
 
Something is stirring tonight. Nikkei is down 2.5% tonight, China's Shanghai is off 4%, Dow futures are down 281.
 
Goldman slashes China

Beijing

[h=1]WSJ STORY:
China Data Pulls Down Asian Shares[/h] [h=2]Shares fall as China’s official manufacturing purchasing managers index for August comes in at 49.7[/h] By Chao Deng

Updated Sept. 1, 2015 12:47 a.m. ET Asian markets fell Tuesday, pressured by disappointing manufacturing data that fueled concerns about growth in China and its neighboring economies.
Stocks in Shanghai, which have been at the epicenter of a global selloff, fell nearly 5% in the morning, although they were last off 1.4% at 3160.26.
In Hong Kong, the Hang Seng Index was down...

To Read the Full Story, Subscribe or Sign In





China Data Pulls Down Asian Shares - WSJ
 
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