FYI: Indeed we saw that with a vicious rally Wednesday – in fact the first 1000 point move in the DJIA in history. Since we prefer % gains, Wednesday’s rally was the best for the major indexes since March 23, 2009. For those with very short time spans and nimble fingers the selloff Monday – on top of what was rarely seen oversold conditions – was a nice short term buying opportunity for a quick in and out trade. That said we are nowhere near out of the woods – the rubber band had simply gone too far one way and when that happens the snap back is often furious. Thursday was another wickedly volatile day with the intraday action (heaving selling until the closing 90 minutes when another giant rally occurred). Stable markets are relatively calm – this is not that.
Regards,
Ted
https://www.stocktrader.com/2018/12/30/weekly-market-recap-dec-30-2018/
