Quote:
Originally Posted by lewdog
The media has been pandering for a "correction" or "bear market" for 1+ years. Get a few days of investors taking profits off the table and people start seeing these selloffs as the peak of the market and the signaling of impending doom. It's a snowball affect. Does anyone think it's partially related to the amount of media and social media affect that so many see today on the markets? I really can't explain how this snowballed so quickly this week so that's just a thought.
The selloff was expected, but not at this type of weekly level. It's pretty crazy to say the least.
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Looking at a weekly chart, a correction on the weekly is very much due.