Stock Market’s Massive Moves Not Seen Since Great Recession: Many who didn’t see the bubble bursting have fallen
A break through the 200-day moving average would likely trigger an even larger sell-off as the last major technical support gives way. To give some perspective on the cliff we just leaped off of, look at every move from the cliff-dive into the Great Recession to the present:
Ah, a picture’s worth a thousand words. That’s the plunge so far, but one of the things I said would make the difference between a normal correction of top-heavy prices and an all-out crash would be how much momentum the downdraft developed — enough momentum and the dive will be hard to stop. Well, this just in:
That’s “ever!” Not just worst since we crashed into the Great Recession (which we are still in, as far as I’m concerned, as we have merely existed propped up on life support while all flaws of the Great Recession remained). Clearly, this fall is already equal in steepness and depth to the worst the Great Recession had to offer and greater than any drop since.
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