Possible higher low so maybe the range low for today was in.
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Hong Kong/London (CNN Business)Stock markets are falling around the world after the number of coronavirus cases surged in Italy and South Korea, putting two more major economies at risk from a virus that has already caused widespread disruption in China.
The Dow (INDU) plunged 1,016 points, or 3.5%, in the early afternoon on Monday.
The index is on track for its worst day in just over two years, when it closed down more than 1,000 points twice within a week as inflation fears gripped Wall Street. On February 5 and again on February 8, 2018, the Dow's percentage drop was more than 4% on both days.
Since the index is higher now, on a percentage basis Monday's selloff isn't as dramatic as other drops in the Dow's history.
The S&P 500 (SPX) and the Nasdaq Composite (COMP) also fell sharply at the start of the trading day in New York. The S&P was down 3.5%, while the Nasdaqdropped nearly 4% in the early afternoon. The VIX (VIX), a measure of market volatility, shot up 42%.
Charts posted are not recommendations. They are just a sharing of information.
Gold prices just suddenly plunged...
right as one typically sees margin calls issued - which suggests that perhaps someone just sold whatever they could to cover the collateral calls on their equity market losses https://www.zerohedge.com/commodities/g ... to+zero%29
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
There are two types of traders in the world, those who think the market reacts to headlines and those who see that they find a headline to explain the market. Both types agree you have to trade the market that is in front of you.
At least in the olden days of live floor trading they could figure things out afterwards while marinating ice cubes.
PPT hard at work today. Not playing this close could go either way, seems like it should go down but would assume people want to see that hammer close.