It's not like stocks are getting a major bounce. It's a little stop of the bleeding. We're taking our breath and focusing on the oil market, oil is the bigger story today with the OPEC news. Ryan Detrick More Quotes by Ryan Detrick More Quotes From Ryan Detrick It's in the back of everyone's mind. We're all worried if there's going to be another big selloff in December, we don't think so. Ryan Detrick business It is almost a function of the fact that last month was so dull, then you get the disappointing ISM number and everyone kind of freaks out real fast and that is what has led to this two-day, very quick gyration lower as we were kind of lulled almost to sleep by the lack of volatility in September. Ryan Detrick business The optimism over trade resolution is outweighing the weakening economic data. Ryan Detrick business It turns out stocks don't like politics much. Ryan Detrick October is known for some spectacular crashes and many expect bad things to happen again this year, but the truth is this month is simply misunderstood, as historically it is about an average month. Ryan Detrick The SP 500 has now gone an incredible 317 trading days in a row above The SP 500 200-day moving average, one of the longest streaks ever, a [ 5 % to ] 7 % pullback could potentially come at any time given we haven't had one in so long. Ryan Detrick Today it’s as simple as ‘bad news is good news’ because the weak number gives the Fed cover to maintain its dovish outlook and likely push back tapering. Ryan Detrick The growing concerns of the weakening economy, the Fed tapering, and the Delta variant were at the front of traders’ minds and when you mix all of that together with the seasonally weak August and coming September period, it all added up to one of the worst weeks we’ve seen in a couple of months. Ryan Detrick
