Spx market update - sentiment trader stock market update
U.S. stocks closed lower, after a failed attempt to rally from the Dow's worst 3-day point decline in history, as investor confidence waned amid continued concerns about China and global growth.
Its basically something we have not seen since the 2008 GLOBAL financial crisis.
The Dow Jones industrial average and the S&P 500 closed about 1.3 percent lower after rallying nearly 3 percent earlier, their biggest reversal to the downside since Oct. 29, 2008. The S&P 500 remained in correction territory after falling there on Monday. The index also posted its first six-day losing streak since July 2012.
In the last week-and-a-half, the S&P 500 lost nearly $2 trillion in market capitalization, with $900 billion in this week's two trading sessions alone.
That crash (Monday) was so big and so long since we had one (investors) don't want a repeat of 2008 so they bail out,
The Dow traveled another 1,600 points during Tuesday's trading session, adding to the 4,900 points the index traveled in down and up moves on Monday.
When you think about that, there is huge amounts of money flowing, and lots of traders either making money but a majority of traders will be losing money!
Whatever triggered the consternation in the last few trading sessions is likely to be replayed again, and we will not be surprised if we are very lower in the days ahead.
The major averages began paring gains in late morning trade after the European close.
This is typical after a wild swing we had yesterday, It's just going to take some time for confidence to rebuild itself, and investor who are panicking to come back off the sidelines.
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