(Before It's News)
The first paragraph below is from a post at Trader Scott’s blog dated September 12, 2016 – when the S&P 500 was about 1% off the all time high. The question was – did Hillary just ring the bell:
“There’s an old Wall Street adage which says “they don’t ring a bell at the top”. While I generally agree with the sentiment of that adage, I would modify it to read “technically speaking they ring a series of bells at the top”. However, the second version is quite cumbersome, not nearly as pithy. But when I first saw this video of Hillary fainting/collapsing, I thought – gosh, are they actually ringing a bell this time? Is this a bell for the top in the 15 month ongoing DISTRIBUTION process/topping formation of Janet Yellen’s favorite economic indicator – the S&P 500?….”
And then, in a post dated October 13, 2016 shown in the paragraph below, my sentiment regarding the stock market was:
“The stock market appears to be benefiting from some sort of “official ?” support, which can certainly continue for 4 more weeks, but it doesn’t change my view on anything. But postponing a very needed selloff in the stock market will likely make a future selloff more severe. So I do believe we are in a very large distribution/topping process. I have recently been chronicling the sectors which I am watching for shorting opportunities, for example……… And into next month we should see a significant selloff and then a good tradeable low. But it’s next month where the volatility really ramps up. Lastly, to repeat: range compression always leads to range expansion – ALWAYS.”
So we get to today, November 1st, and the election is still a week away, but the “officials” are now “allowing” even more indices to trade at new multi-month lows. For example today, the NYSE Composite and the S&P 500, both traded at new multi-month lows, while the Russell 2000 continues even lower. So while understanding the stock market is short term oversold and ripe for some short covering, I find it very fishy that the “officials” are comfortable with continued weakening of support areas. And I am bearish, thus biased, but – is the “official” support being pulled from the stock market telling us THEY have also pulled support from Mrs. Clinton? And the most important questions – on September 11th, did Hillary signal the end of the bull market in stocks – and now, is the stock market signalling the end of Hillary Clinton?