I'm not sure if that point's been hit yet, but it does seem like 'blood in the streets' is finally here. However, I'm not sure I'm ready to buy yet. You'd have to have some steel balls to catch this knife.
edit: Does look like the plunge protection team is stopping this from going below -2%, so I don't think capitulation is in yet (i'd expect it to be like 3-5% drop). However looking at the charts I have a hard time finding any bullish case. Transports (IYT) is looking especially really nasty.
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