More Bad News For Stock Market Bulls: These Drops Have Conviction

More Bad News For Stock Market Bulls: These Drops Have Conviction

As if the largest stock market decline since October 2008 wasn’t enough to put the fear of God back into stock market bulls (and by the way, it was hilarious to see Matt Lauer once again shaking with financial fear on the Today Show this morning) – here’s another piece of bad news:

This drop has been on VERY high volume – particularly the last 2 days, one of which featured a 1000 point intra-day drop in the DOW.

Check out the volume bars below – now THAT’s convincing!

S&P 500 Price ChartSource: StockCharts.com

So the theme of low volume rallies, high volume drops, continues with gusto as the financial week wraps up.

It’s looking more and more like the reflation rally never had any marbles!

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