Failure or launch? That's what everyone wants to know. The market is frustrating bull and bear alike as it tries to hide the answer. It should resolve to the upside, but it FEELS like down is the direction.

I've been around long enough to know this isn't new. It's what the market is best at, breeding frustration. I really thought we'd have an answer today, but we don't, we really don't. All the market did today was make any bulls question their sanity. Tomorrow it could be the bears turn. 

At some point the market will show her hand. The resulting move will be punishing for whoever's on the wrong side, so don't be. 

I can tell you that the economic situation we're dealing with is worse than even I imagined, and I imagined something pretty bad. Stocks will eventually re-price to much lower levels as the new economic reality sets in. That reality is that there will be no growth, only contraction, and for longer than people think. 

This collapse could affect us in ways we don't yet realize. Think supply chain disruptions. It is a very, very fluid situation. They are literally grasping at straws at this point. The next straw may be the one that breaks the camels back, so to speak. Be very careful.