I guess Iran may start selling oil on the free market. Except now there are new sanctions. When they do, that might be the reason for oil to tank and the market tanks with oil. Haven't been following it so closely, though.
It isn't important that Jesse Livermore killed himself, but it is interesting knowledge. The point is he was right. Wall Street pushes stocks to the moon as they just have and as during the Internet Bubble. Then they short, buy puts, etc.. and sell sell sell and push it down into the dirt. Just look at a long term chart. You can hold and lose your money or a lot more of your money, or you can sell, short, whatever and wait for $93.3 or whatever it goes to eventually. The longest term chart you can pull up seems to make $150 look obvious for some support. The fact is $19T in debt and all the other issues, like the "giant sucking sound" and a $500 billion deficit is a big factor. It took a long time coming, but notice the rounding off of the curve to the right. It looks like a hill and we are on the downside. Just an observation. And Wall Street does exactly what I said. They have control. They have computers selling to computers without adding any net position and the same on the sell side. I consider it criminal, but who cares as long as there is money to be made swing trading. Daytrading is a losers game in my opinion. You need the technical analysis to trade from and the fundamentals as well. JMHO
They push stock to the moon, sell them on the way up, and cause a crash so they can buy them cheap cheap cheap. No support below. Look at the absolute longest chart on yahoo finance, no support until $150 for spy.
Nice drop. See the longest term chart of SPY on yahoo finance. Meant to say that before within my first post.
$150, maybe $148 then a bounce, just a hunch.
Possible inverted head and shoulders would mean it falls to $70 or so. The $550 billion dollar (or trillion dollar) deficits and the $450 interest and $400 welfare, and trillion dollar medical expense, and a trillion dollar pension expense, .....
Vote for Trump. Enough of the special interest, lobbying, business as usual. They had their chance, and what did they do; build a $19 T debt, putting the country on the verge of extinction.