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As we saw on Friday’s Open Thread, there is a decent amount of confusion regarding intermediate-term market direction.

Following Friday’s punk NFP, the near term movement is down.

The key to me will be the internals, how much this accelerates or recovers before the day is over. Look for Asia to close somewhat in the Red, and its still 8 hours a day before Europe opens.

A lot can happen between now and tomorrow’s open, but it looks to be a messy one.

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

11 Responses to “Look Out Below, Sunday Night Edition”

  1. pcurve says:

    I’m so jaded at this point. 50 cents says Monday closes flat.

  2. JoseOle says:

    ” and its still 8 hours before Europe opens”

    I don’t think Europe is open tomorrow.


    BR: I think you are right !

    I’ll fix above

  3. Global Eyes says:

    Current headlines are my favorite leading economic indicator. Toss in BR’s spices and you’ve got today’s gumbo.

  4. yuvalw says:

    Europeans are on vacation tomorrow so could be slow till 7-8 AM EST.

  5. yon’ Ritholtz,

    you were ‘calling this out’ last week/weeks ago..

    from last week, especially..

    “…who’d like to go, with a D-Note, against the Idea, that ‘under this Phase of the Moon’, BR is, most closely, Identifying with..

    “…The eldest Oyster looked at him,
    But never a word he said:
    The eldest Oyster winked his eye,
    And shook his heavy head–
    Meaning to say he did not choose
    To leave the oyster-bed…”

    and, thus, is ~Why He is ‘miserably Long’..

    ?? …”

    there were ‘no takers’..

    sometimes, it’s difficult to find a ‘Counterparty’ on the ‘not rising, in the East’-Trade..~

  6. Bob A says:

    ipad ipad on the wall
    with all the billions spent on you
    you still can’t tell me which way the markets goin?

  7. Bob A says:

    he might have a point
    Douglas Kass ‏ @DougKass Reply Retweet Favorite · Open
    Coming up on RealMoneyPro tomorrow morning – “Why Wait Until May When You Can Sell Today?” #stockaction $SPY

  8. Giovanni says:

    @Global Eyes your post reminds me of ‘Men In Black I” maybe it really is the place to get the inside dope.

  9. [...] Outsourced to Ritholtz. [...]

  10. Mark Down says:

    ‘it’s going to be a messy one’

    Mom, tell Barry to stop it!

  11. dead hobo says:

    True or false … Let’s see … markets fall because shit happens and if you follow the herd you will make money.

    Me, I look at liquidity and flows now. It took a long time to learn this. No liquidity is leaving the market. Flows went to commodities, gold, and oil in recent months and years via financial innovation that was fertilized by central bank liquidity. This liquidity is still in the system, but gains in these areas require fundamentals or additional new liquidity. Neither support rising oil, commodity, or gold prices. Most price increases were the result of financial innovation only.

    Bond prices rose due to the end of QE2 as a normal flight to safety and stock crashes caused by European liquidity issues followed by Operation Twist. Only a new flight to safety will cause bonds to remain pricy and only a liquidity crisis will cause a flight to safety of this magnitude.

    Falling commodity prices may create margin calls for stocks purchased on margin where commodities were the collateral. This may create a few percent buying opportunity for stocks where assets reallocate. It depends on how fast commodities fall in price and/or how stubborn true believers remain. Or European debt could again look like something that will shut down all the banks again and that will crash things up real good.

    This is not to say S&P1500 is almost here. Sideways is the new correction today. It’ll take a while to break out past 1425-1450, but economic improvement combined with liquidity flows out of oil, commodities, long term bonds, and gold will pay for the next leg up after the current consolidation.