Ok. Reset coming. Next week. CNBC setup done. Talk about 'frothy markets'. Talk about oil prices being $55 without the evil speculators. No positive spin today.
Yep. Reset coming. However, I remain convinced very small. FOMC meet on Mar 13 will not release new support, drop off continues. Commentary on Greek situation elevating thru the March 20, a important cutoff date on that bond mickey mouse.
Iran BS completely toned down. Light Crude Oil dropping below 100 and Brent below 115 with more news about things in Europe being not so good. Auto sales in February utterly collapsed throughout Europe. This is data that just hit today and has not been factored in yet.
This is why steel has been low and going lower.
AAPL is just part of a smoke screen.
For example, I covered my APC short yesterday. It dropped another $4 today (oh well).
Just watch. But buying pressure will step in quickly, no more than 2 or so weeks downturn. Mild, maybe less than 35 points on the Snp500, say 1325 and the DJIA to 12700. That is why TPTB artificially boosted CVX and XOM while the rest of the oil sector is headed for the cliff.
This 170 point rise will only see at slight kick in the head.
Then 1450 plus.