Yesterday I predicted a fall in stocks as I saw the Down and other US exchanges trading down. Well, look at the results today! We didn't get percentage drop levels of 2008 yet, but at one point the Dow was down -6.19% before it quickly rose up to -3% to fall at -4.72%. The VIX also had its most significant percentage jump in its history up almost 100%. Global stocks followed up with high losses as well.
Reading the news and listening to the people the so-called experts. They said that they do not have a correction like this in their numbers. Hmm. Noone could predict a market falling after it skyrocketed almost into a blowoff top. Bonds have been in a selloff, but for now, the plunge protection team the US Treasury with the ESF Exchange Stabilization Fund and friends came in to prop it up. I think this crash is for sure a wake-up call and tomorrow we'll see more of what to come.
Hey, It is crucial that we understand the fundamentals even though they have been off the table for years, but they will eventually come back. I see these last days of negative to continue. We might look at some upslopes, but for now, I see a downward trajectory caused by debt levels at a record and unsustainable highs.
I thought I'd give you all an update as the markets were nuts today. The final thing to say is to read my latest articles on the FED and Stock Markets to understand better what is happening!
Peace, Love and Voluntaryism,
John