SPDR S&P 500 (SPY)

[snappermelon]

You’re not looking at it from an emotional traders perspective though! Don’t you get it? The only thing that drives a market down like this is an overbought market mixed with fear that is triggered by an event.
In this case, the xiv crash was a wake up call that the market may not just continue going straight up forever and that an “event” can topple the house of cards! Well with that fresh in Joe public’s mind he is much more weary of possible trigger events and then all of a sudden there’s multiple events that the media is telling everyone it could affect the market!
So what’s Joe public going to do? Sell! It’s just another stock bubble that had to burst but it still needs to be triggered by an event! Which it has been. Multiple scary events. Unless of course you only watch Fox News where of course everything is lollipops and sunshine right now!
You think this is profit taking? This is fear selling my friend! Enjoy!