*closing hour action: broad weakness, with net cycle lows.
Watching Cashin on CNBC in the closing minutes... its the old talk of 'how can the Fed increase rates as commodity prices are falling so much?'.
I do understand, but then the lower prices are due to over-supply.. it is NOT a demand issue.
Those maniacs at the Fed had better now back down yet again in December, otherwise the uncertainty will drag into next year.. and that is far from bullish... it could cause all manner of problems in world capital markets.
More than anything... very pleasing to see the big bear flag play out... perfectly. For now at least... the market is behaving itself.
more later... on the VIX