Cleaning the Slate
The Stock Market is following all the technical cues, so rare that it is scary.
Overnight the S&P completed its projected bounce from last weeks lows , and has reached our outside target of 2716.
A Major Stock Market Decline is coming next, starting today.
From here I would expect a further 15 percent decline to initial support at 2311, down 20 % from the highs. This would put it down below where all the 2016 posturing for the US election occurred.
A Weak Dollar
The Dollar is down but is not following a Weak Treasury Policy. Just look at the Euro and Yen. In my opinion it is investors fleeing the trade and deficit policies of the Executive branch.
To sum it all UP
This could be a day to remember for a long time, kind of like, as they say on the old time farm, shooting rats in a barrel.
Posted at 7:35 AM CST 2/15/18