03/16
Yesterday Fed aggressive 1% interest cut down to 0% – 0.25% and 700 QE program did not help stock markets at all. Instead of boosting up its price, stock markets tank again with about -7% across the board or -1800 points in Dow Jones index. As we can see histogram distribution chart, most large caps lost between 7.5% – 10% which are significant down.
More bad news comes from European countries like Italy, Spain, German, UK, France, etc regarding outbreak of corona virus. US also suffers widespread shutdown on business, school, and all major activities.
From technical point of view, support levels are 18000 for DJIA, 2350 for S&P500, and 6200 for Nasdaq. When stock markets reach these levels, they must go through certain panic sell-offs.
