A Flash Crash Last Night?

By: Marty Chenard | Fri, Oct 7, 2016
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Remember flash crashes?

Well, one showed up last night with the Sterling dropping about 10% and then recouping to about a 2% drop.

Here is the question ... Was it really a flash crash or a real exodus out of the Sterling? (In other words, was it a computer trading issue or a trader issue?)

Based on the recoup level, it could be a trader issue, so be very careful.

Note ... today we posted the U.S. Dollar chart with the Dollar testing its resistance line and with the RSI closing slightly above its resistance line yesterday. That is a positive for the Dollar and it is one where a retest may be necessary.

US Dollar Index

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
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Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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