The US Equity Market Just Suffered Its 2nd Biggest Selling-Wave In History

The US Equity Market Just Suffered Its 2nd Biggest Selling-Wave In History

As futures indicated, the US cash equity open was greeted by an avalanche of selling, breaking the S&P back below its 50DMA…

This was the second largest sell-program in history with TICK crashing to -2067 (record low as -2069 on 5/11/21)…

…which means that we were off by just 2 stocks from the biggest selling-wave in history.

A sea of red in stonks…

Perhaps one sign of capitulation is that we are at a more than 90%-down-day in early S&P 500 cash trading (actually 94% of the S&P are in decline). That’s the highest since about October 2020.

But, bear in mind that dip-buyers did not step right in after the 5/11 puke…

So, is that a big enough puke to spark dip-buying?

Tyler Durden
Mon, 09/20/2021 – 09:42

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