Lots of Wreckage Still To Repair In S&P 500 (SPY)

One of my acquaintances (who’s not a pro) emailed me today saying “THE BULLS ARE BACK BABY!” He said he saw it in one of the headlines.

Besides the all caps faux pas, he’s a jackass. One day doesn’t make a trend. And China is the least of our worries at this point.

Big up day in the market, but the trend is still down. I don’t believe any of the “recovery” stories either. There are no jobs. November is coming.

sp500index

(click to enlarge)

Please note: I reserve the right to delete comments that are offensive or off-topic.