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The Market Ear with the latest internals. My view remains that the bear has plenty more downside yet as recession overtakes the US.
SPX – breaking below delicate levels
SPX is now below both the 50 and the 200 day moving average, as well as trading below the short term trend line that has been in place since October lows. A close below the 3950 level and this could get much more dynamic to the downside. From our VIX hedge/downside speculation logic from earlier today click here.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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