We saw such unusual market action on Wednesday, November 29th that I had to push my original plan for today’s article until next week.
On Wednesday we had very a unusual occurrence – strongly bifurcated (or split) market indexes here in the U.S. Here’s what I mean:
- S&P 500 was almost exactly flat: It finished the day down -0.004%
- The Dow Jones finished the day up an appreciable +0.4% (up 104 Dow points)
- The Russell 2000 Small Cap index was up +0.3%
- The Nasdaq 100 was down Big at a -1.8% (and was down -2.3% intraday)
That’s a split market. That’s a crazy market. That’s also a crazy profitable market.
When we had the so-called “Tech Wreck” back in June of this year, CNBC called me while I was sitting comfortably on my couch the night of June 12th and asked if I’d come on air in two hours and talk about my analysis of the last couple of days’ events. I was happy to help. I told them that the market was in no danger and should rebound.
Yesterday, with the markets having a very similar split-index action, I was telling the editorial staff here at The 10-Minute Millionaire that story and half-heartedly suggested they might do it again…
And the on-air request from CNBC hit my email at precisely 7:29 p.m. last night!