Sell/ short the rallies as the secular bulls try anything to keep market intact and the rally alive. Oil up yesterday on some fantasy land belief that OPEC is going to come to the rescue and cut production meaningful. Meanwhile , in the real world oil inventories in the US hit a 9 month high.
Apple earnings were fair but forward guidance was ordinary. Longer term I can see the Apple share price dropping another 20% from here as they deal with saturation smartphone market. Also , sales penetration into the Chinese market is a lot further advanced than some thing with further increase via Chinese public having a less significant effect on their sales revenue growth.
So we go to the last bastion of the bull market ( the Fed ) , will they throw the market's a lifeline tonight and give some type of clue that they might defer further rate rise and we don't have to live in another fantasy land that of the 4 dots for this year.
