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September 01, 2020 1:32pm
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5% Friday – Down Week Needs 2% Bounce Into the Holiday Weekend

Happy Juneteenth!    The US markets are closed on Monday and that could be a good thing because they certainly suck when they are open.  On June 3rd we finished at 4,100 on the S&P 500 ( /ES ) and June 10th found us at 3,900, which was down 4.87%, but close enough and now, on June 17th, we're down another 200 points to 3,700 and that's now pretty much 5% on the nose.  Usually we're happy with a 1% bounce off a 5% drop but really this is a 10% drop so we need a 2% (of the index) bounce, which would be 80 points (20% of the 400 we lost) on the S&P 500 .   IN PROGRESS              

Happy Juneteenth!  

The US markets are closed on Monday and that could be a good thing because they certainly suck when they are open.  On June 3rd we finished at 4,100 on the S&P 500 (/ES) and June 10th found us at 3,900, which was down 4.87%, but close enough and now, on June 17th, we're down another 200 points to 3,700 and that's now pretty much 5% on the nose.  Usually we're happy with a 1% bounce off a 5% drop but really this is a 10% drop so we need a 2% (of the index) bounce, which would be 80 points (20% of the 400 we lost) on the S&P 500.

 

IN PROGRESS

 

 

 

 

 

 

 

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Photography by Christophe Tomatis
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