Butt Ugly Close; Futures Selloff Continues After Equity Close
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Mercy! What a close!
However, being the ever-optimist, I prefer to look at the bright side of things. Get your party hats ready. Another DOW 10,000 party may be on the way.
Equity Closing Snapshot 3:00 PM Central
click on chart for sharper image
Notes:
ES = S&P 500 Futures
NQ = Nasdaq 100 Index Futures
$COMPQ = Nasdaq Composite Index
$SPX = S&P 500 Cash Index
$NDX = Nasdaq 100 Cash Index
DUG =Double Inverse Energy ETF
S&P 500 Cash Index was down 5.34%
Dow Cash Index was down 5.44%
Nasdaq Composite Index was down 6.86%
Nasdaq Cash Index was down 6.07%
Futures Closing Snapshot 3:15 PM Central
click on chart for sharper image
Nasdaq Index Futures sold off another 19 points in the extended futures trading session. 147.25 points total.
Good News: S&P 500 futures only sold off an additional 5 points in the extended session. Optimists like me can always find something to cheer about.
Today's Recap
- Do These Idiots Realize How Stupid They Sound?
- Gold Cries "BullSheet"
- US Dollar, Swiss Franc, Yen Rally; Euro Reverses Gains; Expect Intervention to Fail; Gold Holds Gains in Ocean of Devastating Red
- Email From "An Irate German" Over the Transfer Union; German Bank Exposure by Country; Harvard Economist Seeks "Transfer Union" and US Inflation
- In Vote of "No Confidence" Bank Stocks Hammered Mercilessly - Why Shouldn't They Be? Citigroup, Bank of America, Wells Fargo Bankrupt
I am pleased to report that I am not the only one who looks on the bright side. InstaPundit comments ...
"Dow Finishes Down 634 Points. Obama’s speech certainly did nothing to slow the drop, though I suppose the White House will argue that it would have been 734 without the speech, meaning that Obama saved or created 100 Dow points . . . ."
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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