If you are a trader or investor, you know the significance of this day.
A day that will live in infamy.
Oh, wait. That was a different day.
My grandfather was a wealthy man on October 28, 1929. No, he didn’t own stock on margin. He owned nearly 100 apartments that he bought with mortgages.
Soon after this, he owned only the building that housed his grocery store and the family apartments upstairs.
This history of the aftermath of this day is one of relentless financial loss and suffering.
A very sad day, indeed.
So far, this relentless downtrend hasn’t been broken. In fact, it is hinting at acceleration. It’s pretty astounding.
Here at 7:15 AM in New Yawk, we’re headed for a test of the low around 3260.
We have an unmet 5 day cycle projection of 3220. That’s a piece of cake if this test fails.
Click to engorge.
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