As the first week of trading in December comes to an end, the markets have proven to be what I warned everyone about - volatile and dangerous. The last two days for the major market indices have not been pretty and certainly have done some internal technical damage that I will discuss today.
One thing worth remembering, this is the sixth year of a bull market. In bull market terms, that's an old bull that may be running out of steam.
2015 has been a difficult year for many hedge fund managers as there simply has not been a lot of movement in the overall indices. Based on yesterday's close, the Dow is down 1.94% on the year, the S&P 500 is down 0.45% and the NASDAQ is up 6.37%. This is a very mixed picture and I would not be surprised to see more pressure on these markets in December. I think a lot of money managers may just square up their trading books and wait to look at the markets in 2016. Continue reading "The Markets Could Get Ugly This Month"