Well…what a night (in Australia).
If you remember my posts in Augusts, 1867 on the SP500 did not have the look and feel of a bottom.
Fast forward and there we have it.
Now the market will have to hold here (1785 to 1870) or we go to a situation worse than the GFC as Central Banks are running out of Ammo.
In the next week all the Government guns will come out from Draghi’s ECB to the Fed.
That will be The Point to Watch.
On a different note: if you worry re GFC2 you are focussing on the wrong issue.
If GFC2 arrives oil will drop to $10 or lower and Russia before going down will start a Third World War. Putin said it himself. Nuking Turkish infrastructure was his first choice in a war. The Middle East will go down in flame and even China could act very aggressively (in dictatorships when things get problematic a war is often the solution).
So in effect please do not worry. 95% this is the low.
The 5% so scary it is not even worth considering.
PS. Even Saudi is getting worried re oil…it just introduced capital control. So the oil lows are near.
investorpolitico 