This picture is worth a thousand words. Click on it to enlarge the graphic. This shows stocks beginning about 2:00 pm EST today. Straight down! This chart represents only about 1/2 of today's stock market losses. A similar chart for the first few hours of the day, and a brief middle-of-the-day rally, were depicted in one of my previous charts.S&P 500 traders will vigorously defend the 800 level, and Dow traders, despite having lost the 8000 level, will try to defend last November's lows (around 7400 on the current futures contract).
