Waiting On A Bottom

$SPY $QQQ $IWM $DIA

Indexes remain below August lows. Small caps are wrecked.

10 year is running -

There’s still way too much swirling to even consider that a bottom is in, but there are green shoots - WMT 0.00%↑ up nearly 6% early following its presentation, DAL 0.00%↑ up similarly after reporting earnings, AAPL 0.00%↑ up in spite of additional China tariff announcements.

This is wish list building time for me. There’s no long side action to take, particularly with many names still below even 5 day moving averages.

But the market is taking an

Finally, compare S&P futures the past 3 days to that of the 2 days prior. Those Doji candles (https://www.investopedia.com/terms/d/doji.asp) suggest increased indecision around the news of the hour. Eventually, perceived “bad news” will be received with green candles, suggesting that the market has adequately priced in expectations. Perhaps today is the first day for that.