The World is Changing

“The world is changing.  I feel it in the earth, I feel it in the water, I smell it in the air.  Much that once was is now forgotten; for none now live who remember it.”

– Galadriel, The Fellowship of the Ring

Please tune out everything you’re hearing about yesterday’s mass sell-off and absorb the following Trader’s Consensus from my most trusted sources…

From HCPG Blog:

We took out 3 major moving averages today, 20SMA, 50SMA, and  tagging the 100 SMA which  finally stalled the bleeding.    From a technical point of view we’re working with damaged goods now.  We’ll spare you the “stock picker’s market, be cautious, raise cash” cliches, but we think we’re in for a range bound grind of a summer going forward.   Oh yes, and this will be  a stock picker’s market, please be cautious and raise some cash.

From ChessNWine:

…However, the argument can indeed be made that “this time it is different.” After all, it was only yesterday that we appeared poised for a major breakout, and now we are seeing a nasty reversal today.  I suspect that we are actually going to see more mean reversion. Nasty breakdowns and exuberant breakouts alike will probably be faded. I am curious to see how this plays out. In the meantime, I am playing things so close to the vest that I can barely see my own cards.


People often ask me, “What will it take for you to get bearish”. My answer is simple. “When we see the 65MA cross on my SPX Bond stock ratio chart”…You can see that it is starting to uptrend, but still has a lot of room before we are looking at a possible cross.

From The Big Picture:

We have no shorts at the moment. Our selling has been selective, based on individual names — not a market call. Markets remain in their range, and within 5% of recent highs…I am more inclined to be a bear here than the metrics suggest, but over the long haul, I have learned to trust the data rather than my instincts.


My own take is that the momentum fun is over for the summer.  The ebullience that once was from when recovery was assured, QE3 was a no-brainer and Europe was contained is beginning to be forgotten.  The tone of this market has changed and I suspect we’re in for a very different tape this summer than what we’ve experienced from the August 2010 Jackson Hole QE2 announcement through this past spring.  I’ve been saying this very loudly and publicly since early May here on the blog and on several television shows.

Tags: , ,

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. is blazing trader a scam? commented on Sep 30

    … [Trackback]

    […] Read More on that Topic: […]

  2. immediate edge commented on Oct 01

    … [Trackback]

    […] Info on that Topic: […]

  3. 사설토토 commented on Oct 06

    … [Trackback]

    […] Find More on to that Topic: […]

  4. ISOfrane dive watch band commented on Nov 14

    … [Trackback]

    […] Read More to that Topic: […]

  5. Myfreecams commented on Nov 24

    … [Trackback]

    […] Find More here on that Topic: […]

  6. rbc royal bank commented on Nov 29

    … [Trackback]

    […] Find More Info here to that Topic: […]

  7. bmo banking commented on Dec 03

    … [Trackback]

    […] Read More Info here on that Topic: […]

  8. red bull wholesale price uk commented on Dec 18

    … [Trackback]

    […] Here you will find 48866 more Information on that Topic: […]

  9. Functional testing commented on Dec 20

    … [Trackback]

    […] Find More Info here to that Topic: […]

  10. Kampala International University commented on Dec 31

    … [Trackback]

    […] There you can find 24728 more Info to that Topic: […]

  11. buy medate online commented on Jan 12

    … [Trackback]

    […] There you can find 13309 more Information on that Topic: […]

  12. DevOps Automation commented on Jan 15

    … [Trackback]

    […] Here you will find 57210 more Information on that Topic: […]