The market experienced an historic open with the Dow Jones Industrial Average down 1089 points at its lowest point before rebounding for most of the day. The rebound looked like it would take the Dow into positive territory at one point - being down only 100, but at the end of the day, the bears took the average down a total of 588.
The crash that began last week steepened, the four day sell-off totally almost 1800 points, one of the worst four day stretches in the history of the DOW. Looking at the five year chart, the red bar looks shocking. And looking at the one year chart I have attached, stocks closed basically at the lows of last fall.
The entirety of the gains of the last year have been erased.
The analysts argued on television whether or not we have seen a bottom. The majority of the talking heads squawked to buy buy buy...however, I advise caution. That crash down will not be reversed in a day. Until China stops crashing, no end to this downtrend will occur. Be cautious.
The crash that began last week steepened, the four day sell-off totally almost 1800 points, one of the worst four day stretches in the history of the DOW. Looking at the five year chart, the red bar looks shocking. And looking at the one year chart I have attached, stocks closed basically at the lows of last fall.
The entirety of the gains of the last year have been erased.
The analysts argued on television whether or not we have seen a bottom. The majority of the talking heads squawked to buy buy buy...however, I advise caution. That crash down will not be reversed in a day. Until China stops crashing, no end to this downtrend will occur. Be cautious.