After Crashing 666 points Friday the Dow Jones index crashed in the biggest points loss ever Monday, 1175 points.To put that in perspective, the loss was ‘just 4.60%”. In 1987 the Dow lost 22.61% at the close. But as we said its all a matter of entry and leverage.
After Crashing 666 points Friday the Dow Jones index crashed in the biggest points loss ever Monday, 1175 points.To put that in perspective, the loss was ‘just 4.60%”. In 1987 the Dow lost 22.61% at the close. But as we said its all a matter of entry and leverage.
Source: Wikipedia
On Friday we asked “Where did the bulk of people get in? What triggered the crash? Was it the fact we were already sliding into the jobs report and it signaled more high interest rates? Was it the dow components Chevron, Exxon and Apple who all sold off after earnings?”
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“All factors no doubt but technically we can see how overbought we were from our charts and as confirmed from our short entry and +3/8 Murrey Math on our S&P 500 240 chart last week and confirmed across multiple time frames and indices, namely the Dow and Nasdaq 100.
“Throw in the record low cash levels, low put call and vix and the herd mentaility of the only way is up. Technically the time was ripe, our crowd behavior measures had been flashing red for months. This impulsive was inevitable, but when? “
The takeway people get lost in Fear of Missing Out, at the end of the day in a game of pass the parcel it is leverage and entry that matters. People laughed at Bitcoin, seems they got over confident on everything.
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KnovaWave @knovawave