Submitted by Charles Hugh-Smith of OfTwoMinds blog,
The battle boils down to what controls the market: central banks or fundamentals.
The tug of war between Bull and Bear has rarely been so clearly matched--and the stakes have rarely been so high.
Bulls are confident that central banks have their back in 2016. After all, whatever it takes has successfully pushed equities higher for seven years. Why not an eighth?
In the following video Abby Martin explores the former secretary of States close connections to Wall Street and large multinational corporations to reveal how the Clinton’s multi-million-dollar political machine operates. Hillary Clinton is not a candidate of the people….. she has been preparing for the role of CEO to ‘Big Money’ interests.
There was some hope that after a better than expected result from JPM and, to a lesser extent MS and WFC, that Goldman would surprise to the upside. That did not happen even though the company moments ago reported EPS of $2.68 beating expectations of $2.48, which nonetheless was a 55% plunge in earnings from a year ago.
If asking traders where stocks and oil would be trading one day after a weekend in which the Doha OPEC meeting resulted in a spectacular failure, few if any would have said the S&P would be over 2,100, WTI would be back over $40 and the VIX would be about to drop to 12 and yet that is precisely where the the S&P500 is set to open today, hitting Goldman's year end target 8 months early, and oblivious of the latest batch of poor earnings news, this time from Intel and Netflix, both of which are sharply down overnight.