No Letting Up

Today the market sold off and it appears to be more scary that it was. Looking at the 30 minutes intraday chart for the SP500 ETF, SPY, and you could see the reason why it feels that way. It essentially went down shortly after the open and there was no letting up along the way. It is down, down, down continuously. Similar for the DJIA ETF, DIA (click here to see the chart). So where is the market heading?

In this video, a look at today's market price actions and some levels to watch.

Click here to view the video if you do not see a video player on your screen.



SP500 30 minutes chart:

(click the chart to enlarge)