And I do mean Ruh-Roh.
The S&P 500 had a disaster week for a four day market week with technical breakdowns abounds and worse, every rally was sold into heavily by the institutions. This is an indication that the loss of faith in the Fed and the current regime in DC may well just be starting.
Now add in the growing instability in Taiwan, Ukraine, the Turkish-Kurdish border region, Iran, Iraq, Yemen, Saudi Arabia and reports this morning that the US is deploying troops to Eastern Europe and the formula for another week of risk off is there.
Oh, and did I mention supply chain issues worsening again? The earnings reports this week I’m sure will be hammering this problem pretty heavy once again.
Add in this upcoming Friday’s report on inflation (PCE) and more earnings reports loaded with future earnings warnings and this could be another week with severely choppy action. There will be no safe havens for the time being but acquiring physical precious metals might be a smart play as the march towards war this time will introduce new levels of instability economically and politically.
And after the performance of Western governments during the plandemic, God only knows how they will react to a Russian invasion of anyone.
4300 had best hold this week and some sort of bounce engineered soon or this market could enter into a long dark run towards levels it has not sniffed in over a year.
EDIT TO ADD 05:20 ET:
No sooner than I hit enter and finished typing this, Dow futures reversed from up 95 to negative. This could get seriously ugly by the market close: