Stocks crash gets moving

Thursday, 26 October 2023

The Market Ear with the growing equities fugly.

A little frightening

We do not have a high conviction bearish stance on the market currently. If anything it feels like a “wait & see” or “every other day” type of market. Fear is still stubbornly high but there are also mitigating factors like buybacks, seasonality and pockets of de-risked fast money. However, the technical picture right here right now after today’s move looks a little frightening.

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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.