Was that It?

I have been making the argument all week on my show that it appeared (using the S&P 500™ as the benchmark) that it was becoming more apparent by the day that there just wasn’t any more there-there left in the “markets.” It was becoming abundantly clear (figuratively) that 4800 was both looking like “the mark” for guaranteed year-end bonus celebrations for Wall Street, as well as possibly signalling we were at the extreme top of the market. i.e., There were no more buyers to buy, “they’re all in” as the saying goes.

That, if true, holds many precarious scenarios going forward, both in the short term as well as the longer. Could it all change on a dime and reverse as it has so many times prior it’s become near impossible to count, never mind track? Of course, however, all I’ll leave you with is the S&P 500 futures as of this writing (Thursday ~7:45pm EST) to express the above. To wit:

(Chart Source)

As always, we shall see.

© 2021 Mark St.Cyr

Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.