Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Friday, June 12, 2020
SPX S&P 500 5-Minute Chart; Machine-Driven Selloff
The stock market complacency finally creates a spankdown off the top. The S&P 500 dumps 188 points, -5.9%, to 3002. After the gap-down open, the machines clearly took over. Typically, about 80% of the daily trading is robot-driven. During the 6/11/20 selloff, the chart unequivocally shows steady-eddy, machine-driven, programmed selling start to finish probably controlling over 90% of the trading. Computers are in charge of the world; isn't that reassuring? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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