Earlier this week US markets experienced one of the most volatile trading days from top to bottom since October 2011, despite seeing a lot of financially seismic events since then.
In terms of volatility moving forward, I have been based on market movement. Lets take a more detailed look at what exactly transpired earlier this week.
Given my penchant for making plays in the market after 10:30 EST, we see that the market tried to bounce around 10:30 EST, eventually succeeding at 11:30 EST. Ultimately however, this is not a one-position market, rather this is a market where groups are moving, a move reflective in a number of instances, notwithstanding Chinese internet stocks.
Doom and Gloom
Chinese stocks received a beating earlier this week, following a number of disparaging signs of a bubble that many market participants felt was the worst kept secret in financial markets. After incurring a drop of nearly -32% off of its highs in the middle of June, the Shanghai Index has found itself facing a number of headwinds.
In addition, markets also grappled the lingering situation in Greece that came to a head yesterday with a concrete ultimatum of a “final” deadline between Eurogroup creditors and the Greek government.
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