We are about to find out. China just released several disappointing economic reports today. Read “China’s Economy Grinds Down a Gear as Heavy Industry Drags” on Bloomberg.
In today’s video I look at the collapsing Shanghai Composite Index but first I check in on our markets and several key ETFs including IBB and XLF. This is a very brief view of what my Insider Members get.
The markets are still extremely volatile as the DJIA was down over 250 points at one point on Friday but closed up 200. A huge whipsaw day…enough to give anyone indigestion. The market was trying to digest the jobs report that was released Friday morning showing less than expected job growth and downward revisions to July and August.
This market has still not demonstrated the type of pessimism at a selloff low that was shown in 2011 much less 2008/2009. I talk about this in today’s Weekend Market Analysis video (below). In addition to our normal key ETFs that I review on the weekend, I add several more sector ETFs to look at a total of 10 broad sectors and 2 more specialized sectors. Continue reading
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