Market technician Ralph Acampora sees a waterfall decline similar to 1987. Stoned gamblers on the other hand - buying the dip for an entire month straight - see opportunity in 2015 China meltdown, 2016 global growth slowdown, peak earnings, Y2K 2.0, rotation to recession, 1930s tariffs, Fed tightening, and worst month for stocks since 2008:
"Concerns including a US-China trade war, the Federal Reserve's interest-rate policy, and a slowdown in global growth led to a wave of heavy selling."
This was October in a nutshell. Every major decline - including the all time high itself - came on/after Wednesday. Not a prediction, merely an observation.
Why? Because Wednesday is weekly VIX expiration - easiest time to manipulate the market.
This is the hypothetical Elliott Wave count for a waterfall crash, nested 1s and 2s, each one trend degree larger than the prior.
Third wave down at all degrees of trend. Trick or treat?
The Nasdaq (100) shows us this bounce is all very corrective:
Now picture every risk asset in the world 100% correlated. To the downside...
"Oil and stocks have embarked on the closest trading relationship since early 2016 and during the financial crisis sell-off."
The argument from Trump apologists for why he lies constantly but it's ok, is because it enrages the "progressives", which in turn "motivates" his political base. Thinking slightly beyond next Tuesday, those on the "left" believe that a functioning president should be honest and lucid lest "bad things" are happening. The good news is both sides overwhelmingly agree on one point - he was sent to blow-up the status quo. For that he gets an A+...
A+ on deception.
Reagan proved that anyone can be president. Trump proved that Gary Busey is the Republican's go to guy for 2020.