GE's action was telling. From some of the bull posts what I hear is that the market has anticipated the coming recession. If that was the case, then why did GE gap down like it did? It's because it has not anticipated. The coming fundamental news is not reflected in stocks. You had the proof Friday.
Eggs Zachary. There is still so much denial amongst the "smart money" it's hard for me to understand why they are called that because they ain't.
Finally, I would go on to say that despite the fact that we mostly post about technicals here, doesn't imply that fundamentals aren't important, perhaps more important. If you feel that your technicals let you down on Friday, perhaps you should look closer at the possible fundamentals in connection with the technicals. In a bull market the market would have taken the GE news, gapped lower, then rallied.
IT
I would only add that, with all due respect IndexTrader, if we had the fundamental environment for a bull market, GE would not have had that kind report to begin with.
That they did, having nothing to do with the stock's movement, tells everyone how serious this the situation is and we are still early on, by my estimate, in the unravelling.
