Dow Dumps Over 750 Points - Takes Out February Crash Lows
Content adapted from this Zerohedge.com article : Source
The DJIA is dropping like a rock flung from a bridge into a river.
It is now 3,300 points off the high taking out key support. The Average now resides near a November low.
The index gave back 6% YTD.
The VIX shot up again, topping 25.
Non-adapated content found @zerohedge.com: Source
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This is nothing! Once rates go higher we are going much lower unless dollar goes down more then real value lost then we’ll make new “highs” but only on dollar terms
But this is the first time we’ve seen stocks dump and crypto inversely rise.
I reckon we're seeing actual market moves, rather than QE overwhelming them, for once.
Valuations are ridiculous, and dependent on QE, which is equally intolerable. The market is so rigged we scarcely see real market sentiment, overwhelmed by greenbacks so fresh the ink is running.
Ok
Would DOW crash more this week?
Dow could be there already, but Dow futures have still some way to go to reach that low as you can see on my chart below. I think we will break even lower. There is no panic just yet, VIX is not at this point just yet. With that said I think too many people expect the bounce once we get to this low. And usually the opposite happens.
