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There are No Support Levels in Today’s Stock Markets

by John Galt
24.02.20 05:00 ET

There will be a lot of wringing of hands. There will be lies spun by government officials and central banksters. There will be some real panic now. With the massive outbreak of coronavirus in Italy and now most of the Middle East, no one will believe the data from China after the information flow from an open nation like South Korea(now with over 800 cases).

This means economic reality and an actual market panic may well set in today with the potential for the DJIA to drop easily 3 or 4% (or more) as more news drips out about the severity of the outbreak. Italy is the first truly Western nation to see a major cluster and with this they initiated lockdowns and blockades of the infected Lombardy region towns. Thus putting into the minds of the power elite, “what happens in the U.S. when this hits?”

Keep all of this in mind because the “rule book” is out the window and their are literally no support levels in a full blown market panic which may or may not occur today.

It doesn’t matter. When these questions get asked, it’s time to sell. Here is a brief snapshot from Investing.com of what it looks like:

IF the 10 year yield breaks below 1.30% it means a crash is happening or occurring as we watch this fiasco unfold.

One Comment

  1. […] are primed to open substantially lower again with technical support levels being obliterated (as I warned the other day) and all normal trading theories are, as we say in the South, blowd up. The numbers are devastating […]

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