How’s this for a positive outlook on the big equity markets today:
Those 100 percent sell recommendations mean that 100 percent of the surveyed recommenders – analysts that are usually all over the map with their recommendations – are saying sell.
It’s a dark, ugly, red day in the markets today.
Here’s what the S and P 500 has done, in the wake of the U.S. debt downgrade and continuing Euro reality denial:
Pretty much everything other than the U.S. dollar and gold have been sliding in the past week. Here’s canola:
And even King Corn, the bullishest of the bullishy crops, has submitted to the slump:
You can focus all you want on crop S and Ds, but the reality is that the big markets are leading the parade right now.
And it’s a parade to the graveyard.
Maybe it’ll turn around for crops once the equity markets have buried their losses, but for right now, our crops are marching along like pallbearers.
