Not trying to make any predictions here, but one thing that stood out in the initial dump in Feb, and it was repeated in this more recent swing, was the movement of the Dow relative to the S&P and NASDQ
The DOW was the biggest percentage mover to the downside in both instances. (Last night too).
All things being equal, the NDQ is usually most volatile, followed by S&P then the DOW. This change in the volatility regime means something, I'm just not sure what.
Given the nature of the DOW constituents, it looks like big money is more scared than the rest of the pack. Note that I DON"T consider big money to be smart money, but they do impact.
Just something to watch.
MFx
Woman's Day - Thursday, page-8
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