Yahoo has reported on the day’s stock market activity, in which the averages opened down and trended upward but still closed down. Here is how it described the day’s activity: ”Wall Street ends off lows, suggesting resilience”.
“Resilience” is good when it occurs quietly, such as with a stock or asset class that does not drop on bad news, or opens down on bad news and then closes at a breakout high on no new news. In those cases, the smart money has usually been (legally) accumulating the asset in anticipation of the fundamentals turning. When Yahoo has to announce to its viewers that the modest bounce back off the lows shows that the market is resilient, then my suspicion is:
The market is no longer resilient, or is soon not be be so.