I’m going to have to relax a bit over the next few days ’cause I’m in danger of posting up a lot of rant as comments start to come in regarding the market ‘crash’ (‘crash’ … LOL … don’t get me started. See, its starting already).
Just saw some remarks to the effect that we have known about ‘these problems’ (the post-fact attributions of what ’caused’ the ‘crash’) for a long time, so why now?. This sort of linear thinking is pretty much useless. Wyckoff said this nearly a century ago, and countless people have reiterated, don’t so much look at what the news/event/situation is, look at the price response – how is the price responding to the news/event/situation?
“The study of responses … is an almost unerring guide to the technical position of the market.” – Wyckoff
There’s more to say on this, but not now. (But really, how much more needs to be said?)