Via Quantifiable Edges…
“Bringing it back to the present, with the strong selling and extreme indications we are seeing via price action, breadth, and VIX movement, I believe the environment is quite similar to those we see in the short list above. I also believe a strong bounce is likely to occur in very short order. The difficulty is that in the time between now and when the bounce truly kicks in there could be a substantial amount of short-term pain. Will the market rocket upwards from here like it did in 1987 and 2002? Or will it require an even bigger washout before bouncing as it did in 2008?”
Click over to read the rest: Thoughts/Stats on Current Extreme Selling