Have you been wondering aloud lately about the obvious insanity driving these equity markets? Not Earthquakes, Not Radiation, Not Portugal and Not Inflation can make a dent. Oddly, all of these actually seem to provide some strength. Not even a poor consumer confidence number or a wretched durable goods report can shake it.
In fact, not even hawkish commentary from TWO Fed officials today could provide any noticeable sell trigger. So what then will it be?
We figure that it has to be something big….really big. Or something unbelievable. For BIG, it would have to be an alien invasion. That should do the trick.
But what unbelievable or even unheard of situation could provide the impetus for sellers to work the markets this afternoon and forward?
Yes, it was something unbelievable. Something that most under the age of 10 have never seen. Something… Well….. Brace yourself!!!!!
Natural Gas prices actually spiked higher.
Of course you probably won’t believe me, so below is a chart that shows the daily view of natural gas prices today and under that the S&P 500. Notice the inverse move at 2:00pm or so. I know, hard to believe… Maybe we should call Ripley.
(Tongue and cheek of course for those of you without a sense of humor)