The market’s trading swings could consolidate into a somewhat more narrow range over the short run. For the Dow that range could be 31,000 on the upside and 29,500 on the lower end. 

The ongoing grueling market action with its expansive trading swings, especially the movements to the downside, probably indicate that we’re not in for a bell ringer bottom. 

More short-term pain for a longer-term gain seems to be the position the Fed is taking by raising rates by 75 basis points yesterday. 

Yesterday’s New York Times ran a front-page graph showing the duration of bear markets extending back to 1980. What I thought was interesting was… 

Diminishing confidence among both investors and consumers has taken its toll on Wall Street. The accelerating downtrend is based on a number of factors but the greatest is the Fed. 

Gene Peroni’s Daily Podcast: The VIX moving to 33 this morning, putting it in the thick of near-term resistance that has been playing significantly in recent week. 

Recently I noted that the Volatility Index can be subject to interpretation, but it is undeniable that in May — a pretty volatile month for stocks — the index was in a steady downtrend. 

The latest AAII sentiment survey shows more of a balance between the bulls and the bears than we’ve seen in a long time. 

A forecast for an economic hurricane played on investors’ psyche yesterday, but I would argue that it didn’t have the impact that it might have had even just a few weeks ago.