OK, so I guess I have too much time on my hands, since there is nothing else to do in this recession.
Please check out this chart of the 1942 lows and what was going on at the time--in the period of a few weeks.
Bataan Death March
Doolittle Raid on Tokyo
Persecution of Jews (and worse to come)
Allied Air-lift TO China
Battle of the Coral Sea
EW theory kinds of goes overboard in saying that it is the social "mood" (wave) which makes the news, not the news which makes the "mood". Keep that in mind though, the news can move the markets temporarily, but overall I think it is financial entertainment television which tries to get us to place our capital at risk by pretending that market moves can be explained by news.
Nice commentary and chart steve. thnx.
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