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Biggest one day drop in Dow history is coming
What a day

What a week

What a decade

SkyCat  likes this!
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Markets do not crash from highs.

Indeed they nearly always crash from severe oversold conditions -- that is, on "local" lows.

The reasons for this are somewhat complex but come down to psychology. Every night some number of people wake up in a cold sweat thinking they're going to lose all their money. Some other number of people wake up with a huge, raging hard-on thinking they're going to make a fortune. They meet during the day, or even overnight now with the futures, and hit "buy" or "sell."

SkyCat  likes this!
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