S&P..managed to slump & close through the 50-day MA & within a whisker of the 200-day one. And it’s nowhere near oversold. Chart from Analyst, Nicole Elliott – Investors Chronicle.


S&P SHORT TERM TRADER: Took profits at first target 2550 and now looking to resell as close to 2700 as I can.

S&P POSITION TAKER: Took partial profits at first target 2545. Now looking to re-sell for another drop to 2455 – and maybe a lot more.


Passive investors jump Billions flee market turmoil

A staggering $23.6 billion fled the world’s biggest passive investment fund, the SPDR S&P 500 ETF issued by State Street Bank, in the last week alone – Bloomberg reports. If one then adds in losses on the fund due to price falls in the stocks included in the index, the total value eliminated is $38.6 billion. Similar funds, offered by big-hitters Vanguard and Blackrock, are said to have suffered less last week.

At a conference in Dubai yesterday Christine Lagarde, head of the IMF, noted, ‘I’m reasonably optimistic because of the landscape we have at the moment. But we cannot sit back and continue to wait for growth to continue as normal. I’m ringing not the alarm signal, but a strong encouragement and warning signal’ [on recent stock market jitters].

Financial & Political Commentary



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