Don’t look now, but futures are up this morning. You read that right.
Here in Japan, the Nikkei gained 6%. The Hang Seng gained 14%. As I leave the office for the night, London is up 2%, Frankfurt is up 6%, and Paris is up 3%.
On Sunday, I wrote to subscribers:
The only way hanging in here will be wrong is if the market keeps going down with no reprieve whatsoever. If the Double Panic Plus VIX doesn’t matter, if the oversold RSI doesn’t matter, if the worm’s eye view MACD doesn’t matter, if being 25% below the 50-day moving average for only the fifth time since 1928 doesn’t matter, then holding here is the wrong move.
You know which odds we’re taking.
Come on, New York! Don’t let the rest of the world show you up. Get high in the green today.
