Bears Still the Best Friend Bulls Have Got

With the Dow down 357 points late in the session, bears couldn’t finish the job.  Unwilling to trust their good fortune, they scrambled to cover short positions in the final two hours, helping DaBoyz recoup more than 40% of the ground they’d lost earlier in the day. This was the second straight day of weakness, which is about as bad as it gets for the aging bull market.  Even so, because the major indices exceeded some key Hidden Pivot supports intraday, there is hope that the week could end with always-cocksure buyers getting their comeuppance. An important vote is scheduled on Kavanaugh’s confirmation, but it has become clear that Wall Street doesn’t care what direction the country is headed politically.