More Wild Trading In Global Markets But Here Are The Key Things To Watch For Today

Wednesday, August 26, 2015
By Paul Martin
Aug. 26, 2015

On the heels of another down day in China’s stock market, the Dow and and the dollar are bucking the trend but Europe is sagging, today one of the greats in the business sent King World News a fantastic piece discussing the global chaos and what to look for today.

August 26 (King World News) – Art Cashin starts off today’s piece with a play-by-play of the chaos from yesterday: “Many TV pundits spoke of the strength and vigor of the upside reversal. That proposition was repeated so often that I felt compelled to send a note to friends pointing out some flaws in that thesis. This is what I wrote:

Despite this huge bounce, the Dow and S&P have failed to reached their 1:00 intra-day highs on Monday of 16,459 and 1965. Today’s highs are 16,263 and 1940. Keep an eye on crude, which is off the day’s highs and faltering a bit.

I would then repeat those concerns with Bob Pisani on and later with Carl Quintanilla on Squawk Alley.

Stocks slipped back off their intraday highs and then churned laterally as they awaited a new signal. I noted that in a midday follow-up:

Stocks spinning wheels just below the day’s high as they continue to monitor WTI.

Volume nowhere near where we were at this time yesterday. At noon, the run rate projects to 920 million to 1 billion shares versus yesterday’s 1.66 billion.

The Rest…HERE

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