I'm worried about this market. We are at the point where it's not about fundamentals per se but about perception and about confidence or lack thereof. But there is a legitimate concern about the macro condition of the domestic economy and the global economy. There is a legitimate concern about political and economic turmoil in Europe. There is legitimate concern about our elections this fall and whether Americans ditch their (previously) cherished notion of self-made success and determination or decide achievement only happens via a collective and somehow we must pay homage to sidewalks.
You know I can understand why primitive societies once worshiped and feared active volcanoes, but we are being told to pay for sidewalks over and over again and to sacrifice our paychecks in the future as tribute.
Legitimate red flags from the market yesterday came from all angles.
Transportation stocks got crushed with names like Kansas City Southern (KSU) and Union Pacific (UNP) down big with tons of volume. The Dow Jones Transportation Average really took it on the chin, off 3.18% for the session. The index is nearing a very pivotal support point.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 1st, 2014 | John Ransom
In Other News: WH Daily Intel Briefings Are Optional? Obama Attends Fewer than Half | Michael Schaus
John Ransom and the Social Security Show-- Get Your Social Security Questions Answered | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for September 29th, 2014 | John Ransom
In Other News: Hey White People! All GOP Policies Apparently Designed to Kill Black People | Michael Schaus