Are You Thinking What I'm Thinking?

August 19, 2013

Weekly Market Outlook

By Mish Schneider

Was last week’s gap lower just the beginning?

Last week, good news in the labor market was bad news for stocks, and…
bad earnings reports (i.e. CSCO, CREE, and WMT) was also news for stocks.

So if traders have now decided that good news is a reason to sell stocks, and bad news is a reason to sell stocks, then the outlook must be pretty bleak!

The market certainly feels like it’s bracing for some rough news from the Fed, but that’s not new and with earnings season winding down, where will the new big bearish catalyst come from? Or… is it just a matter of time for the market to realize that stocks aren’t as safe as investors have assumed?

Some pullbacks take longer than others to run their course. This week’s video looks a few indications that suggest this one may not end at that the SPY’s 50-day moving average.

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