Dow tumbles more than 650 points in midday trade

a reply to: St Udio

HFT, high frequency trading, makes up 90%+ of trades on the markets. It is bots. Making tades based on algorithms. Basically, once a trend begins it can continue and grow solely because of bot trading without human intervention due to indicators being met. It can spiral out of control and that is a fear in this day n' age.

Buy crypto alts at all time USD lows. Thank me later.

a reply to: Metallicus

Or could these tech stocks sell offs be due to inside knowledge of a EMP attack, after all no SATELLITES = no social media or Internet, no social media or Internet or Satellites = ZERO DOLLAR VALUE FOR TECH SHARES/COMPANIES.
$200 MILLION IN TARRIFS SEEMS LIKE A TRIGGER TO ME.

a reply to: ALSTA


You are right an EMP would make Cryptos' worthless.

originally posted by: infolurker
a reply to: FamCore

Going back up!

C'mon Fed Plunge Protection Crew.... get this crap back up to 26 so I can move to safety!

Even with the high frequency trading restricted to shill buying, Dow 26,000 seems a little generous.
Common rule for bears is wait for a 50% retracement before selling short again.
Dow looks like it will open up near the 50% retracement for yesterdays loss or at least reach that sometime in the morning.

Banks still offering 2 yr CD at 3% but 2 year bond yields slipped to 2.88% yesterday.

Most bulls see any retracement as a buy opportunity or at least a sell order delay.
Wonder what the brokers are telling their clients over the phone?

150 point swing in the first 42 min - watching this closely

ETA: now it's only up 127 points... I am thinking it could actually sink back into the red and this prop-up was primarily the result of some shadow entities propping it up to prevent the inevitable

^^^ I'm not the only one noticing this, article on Marketwatch talking about the "rally" fizzling out..

Was up by only 28 points just now!!! 350 point gain gone!

a reply to: infolurker
a reply to: anonentity

The Dow's powerful opening Friday rally is fizzling--fast

DOW negative 24 points now... my sneaking suspicions appear to be confirmed. This could be another significant drop before markets close in 3+ hours

This would be a huge double top formation in many of the stock indices if it confirmed, but that may be weeks away.
The US Dow Jones would have to break below 24,000 before you could really say it wasn't technically still in an uptrend.
There could be some continued advancement next week, Fibonacci Retracements for example are typically 61.8% and 38.2%.
So theoretically the Dow for example could recover to near 26,200 before the next down leg but I'd go with the lower value closer to 25,777.

here's a piece & a video by the talking heads & their prognosis of the economic health

finance.yahoo.com...

THE CNBC talking heads avoiding the real issue of our DOW JONES stock market rebalancing out of social media over valued stocks (which the Fed secretly propped up & inflated) and shifting future valuations/growth into the industry-base/infrastructure businesses...(Amazon/Goog...et al)

good thing the USA energy resources are so robust...or else the building up of a economic superstructure of 'neighborhood' merchandise 'hubs' could not be accomplished (hubs reborn and as plentiful as the now defunct SEARs buildings now known as Neighborhood Amazon MALLs) --> along with supporting, tag-along businesses


see: "Walmart is aggressively shifting away from its most legendary shopping format" from Yahoo Finance publishing(supercenter shutdowns)

both the politicians and talking heads/economists/traders presist in misguiding the masses...until the reality of the daily events slaps them awake that they were off-the-mark and they get dragged into joining the chior after all...
the approaching downturn is not a collapse per se...but a market revitalizing itself from the former war-gloom-doom-bust cycles of the 'dark state' mandate

what a horrible thread title.

a reply to: carewemust

Midday is a broader term than just noon or "top of the morning".
You could rephrase the OP's question and ask is this a double top formation or just a short term correction in a bull market?
We made it back to the lower Fibonacci Retracement Dow closed at 25,798.42.
Thats 21 points higher than my estimate for the Tuesday close.