Retail players are running for the exits, markets around the world are showing the strain and everyone is asking “where’s the bottom?”
A lot of focus is on this weeks Federal Reserve meeting, but Janet Yellen is clearly in a tough spot. If she raises rates the markets are likely to continue going down as cost of borrowing increases, however is she doesn’t raise rates this may signal that the overall economy is weak, and again cause markets to go down.
Earnings on US Stocks seems to be mixed as well with guidance somewhat lower than expected, so Cruse oil is the whole story.
For the time being the market bottom is elusive at best. But let’s remember that opportunity often hides in the markets that nobody else wants to buy.