US Equity Indices Crash Below Key Technicals


Well that escalated quickly… US equity markets are plunging this morning, led by a 3% plunge in Small Caps (Dow and S&P down 2%)…

All the major indices have broken below key technical levels…

Nasdaq is back below its 50DMA (14,875); S&P is testing down towards its 100DMA (4327); The Dow has broken its 100DMA and is looking down at its 200DMA (33179); and the Russell 2000 has broken below its 200DMA (2202).

VIX is back above 26…

This could never happen again, right?

But a drawdown is well overdue…

Is everyone now holding their breath for Beijing to bail the world out?



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