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As I expected yesterday “I would expect the further slide”, we saw the continuation of the yesterday rally.
The NASDAQ 100 was leading the market into the “hellhole”, while the S&P 500 and DJI indexes were struggling against this crush. It looks like after the strong drop yesterday the S&P 500 and DJI were ready to recover, however, drowned by the NASDAQ 100 they slide down as well.
The last two sessions have brought a huge output of the volume. No doubt, the huge number of stop losses was eaten and huge number of traders run out of the market. The tricky question is – “who has bought from those who in panic left the market???” And somebody was buying today…. Keep in mind that the volume is two side transaction: if somebody sold shares – that means somebody bought them….
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