World Blog by humble servant. The Dow Jones industrials.
A closing today above 20490 will imply at least a pause and a possible bounce back to the brake line which stands at 22338 - 22178 going into Monday. Keep in mind that rapid declines may be harder emotionally to deal with, but they forced people to liquidate in panic. This kind of decline, as was the case in 1929 and 1989 bubble in Japan leave people clinging to the positions which drags the decline out for extended periods of time. The reason is simple when they hold, the natural human inclination is to try to break even therefore, they sell Rally's trying to get out when the declines are sharp and short-lived, these cause people to panic and just sell that allows for a slingshot. They are not looking to see a rally they will not believe the rally and become bullish ONLY at the next High. Should the dow fail to rally back above we should be on guard against one more final decline into the quarter where we see perhaps 18140 or 17702 to 17200 level. Today is TRIPLE witching.. Ho...