12 shot dead at a Batman premiere. If there was ever any question whether we've been in a new bull market or simply a bear market rally since 2009, it was just settled with the lives of these poor souls.
If the S&P was several hundred points lower, I'd probably sense this marked a bottom. Occurring so close to the highs, it paints a darker socionomic picture for me -- one that just got a lot sharper, however. Sadly it's probably a shot across the bow for how bad things are to come. My heart goes out to the families of those who died, and to the rest of us who will be around to witness the coming changes.
Futures are down sharply this morning. The S&P looks like it will open in an area of interest to me for longs to hedge my newly acquired short inventory, the 1363-1367 area. I would not want to see it under 1361.32 however. That would mean that I was likely very wrong yesterday when I tweeted that the daily chart suggested new highs even though things looked bad on the 5 minute charts.
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