Today Dow plunge 800 points in the middle of the day and closed at 390 points. The plunge is an extension of Europe and Asian Market drop. This plunge happened after the Congress passed the bailout plan two days later. The market is full of the panic. The VIX has reached to its history high 52.05. Let's look at some of the market's indicators to see what's really happend:
1. US dollar index closed at 81.7 which is at 1 year high. This signal us the international money is flowing back to USA market.
2. VIX is high.
3. Crude oil and basic materials dropped huge. Crude slumped 4.84% to 71.61. POT/MOS/MON slumped 9%
Market can rebound at anytime with good news in near future. Buy dip.
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