The Reason Why

By WHC Bassetti

Actually, we do know why. The Dow had picked up around 18% from wave bottom on this wave without a correction. That alone is enough to account for the China syndrome (market melting down to China, for those of you who are not nuclear engineers). All the aware participants knew it was imminent and sat around the trading floor looking at each other waiting to see who would blink first. Or who would rush for the last available musical chair. So the explanation for the "market break" is completely technical.

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