Stocks are getting hammered again this morning as it seems that all of a sudden the world is collapsing again. So much of this is manipulated by negative headlines that seem to build up and are then conveniently released when the market weakens, like yesterday. The big takeaways from yesterday's actions were the breakdown in the transports and gold. The gold breakdown was to be expected by anyone who can pull away and look objectively at such a runup in price. No different than the Housing bubble or the Tech bubble.
More significant is the drop in Transports. Strength in Transportation stocks is characteristic of a healthy world economy. We need to keep an eye on this and heed its warnings.
As of 9:50 am:
Dow -341
Nas -75
S&P -35 to 1132
Here is a chart on the Dow Jones transports:
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