On every trading day, after market closes, I would choose 10 best tweets from the Fintwit World and rank them on thoughtfulness of their ideas and informative of their charts. Please tweet your nominations for Top Ten Tweets (TTT) to my account @MasterPandaWu.
The twin attacks near Kabul Airport just around the market open sent stocks tumbling. Meanwhile, VIX, the so-called Black Swan Index, exploded higher, casting more doubts and dark clouds on the much-anticipated J-Hole speech by FED Chair Powell tomorrow. It turned out that the terrorist attack is the deadliest for U.S. troops in Afghanistan over a decade. For the entire session, SPX could not recover from the early slump; however, the bears failed to push the market much further down, either. The market’s anti-gravity resiliency, or blind stubbornness—depending on where you stand, is both puzzling and scary. Without any meaningful correction to clean up the weaker hands, the majority of the participants would not be able to exit safely in a stampede. For those who have lived through several market crashes, the question is not whether it would happen, but when. As to SPX, the key pivotal zone to watch for tomorrow would be 4430-4435. If broken, much more severe decline would ensue.