Markets
Bear Dead??? The much watched volatility index has come way off the 50 day moving average for the first time in like forever is a good sign but we're going to need a lot more than just that. We must puncture the old bear highs of around Dow 9600+ and S&P 1000+ before wishful thinking takes hold. But no matter what, this will be a bear market rally. It doesn't mean more than that. How can it? Which means it just might turn into a calf market at least. Or maybe a cow market. BTW, it looks like a lot of the press is FINALLY zeroing in on the culpability of the UAW in this. The WSJ is running a surprising piece this AM which clearly points out the UAW lap dog called Congress mandated the impossible to meet gas mileage rules, which meant that the Big Three HAD to turn out cars at a loss in the US. However they turned out the same small cars in Europe, Asia, and South America, all places without the UAW, and they made profits everywhere. Stay tuned. This may be a problem without a solution or perhaps a problem nobody wants to solve.