Sellable Rally, Or Return of the Bull!? (Good article)Sellable Rally, or Return of the Bull!? There is currently EVERY indication given the speed and magnitude of the decline, that any short-term reflexive bounce will likely fail. Such a failure will lead to a retest of the recent lows, or worse...
Today is an important day in the markets.... markets rallied 4.5% in one day (insane rally!) based on belief G7 Meeting would (immediately I believe) lead to some central bank intervention... AND SO FAR NOTHING!
If Sp500 falls back below 3,050 (key support level) we may see continued major selling and retest of the low.
HATE TO SAY IT, BUT SUCH A MOVE IN MARKETS "COULD" SEND SCORE BACK DOWN TO $0.55 ... be tough to navigate through these muddy waters until Canada legalization rumour creates new buying, or some positive NR/PR!
Stay cautiously everyone