Market capitulation under way
YM (mini-Dow futures)
DJIA and VIX (volatility index)
See graphs. DJIA closed at 8580 today. This is history in the making!
WSJ: Industrials Drop 680 After Late Collapse
S&P 500 weekly from 1990 to 2008
The DJIA is too manipulated. GM was downgraded today by S&P, conveniently when GM is testing it’s long term low. Just where the heck were these guys a few weeks back? Do they think we’re idiots? This is blatant market manipulation!
Anyway, enough with the vent. I was just going to point out this week’s market plunge with respect to the longer term picture. S&P 500 at 903 today is just shy of its 900 support. Next support would be 750. The million dollar question is, will we see 750 or 1000 first?
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