{"id":10476,"date":"2014-07-31T21:59:50","date_gmt":"2014-08-01T01:59:50","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=10476"},"modified":"2014-07-31T21:59:50","modified_gmt":"2014-08-01T01:59:50","slug":"what-caused-the-dow-sell-off","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/31\/what-caused-the-dow-sell-off\/","title":{"rendered":"What caused the Dow sell-off?"},"content":{"rendered":"<p>Dow Jones Industrial Average fell 1.88% to close at 16563, breach of 16750 warning of a secondary correction. Decline of 21-day Twiggs Money Flow below zero would strengthen the signal. Breach of primary support at 15500 is unlikely and the trend remains upward.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" title=\"Dow Jones Industrial Average\" alt=\"Dow Jones Industrial Average\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-31-dow.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 16500 + ( 16500 &#8211; 15500 ) = 17500<\/p>\n<p>The S&amp;P 500 also fell sharply. Reversal below 1950 warns of a test of medium-term support at 1900. Breach of primary support at 1750 again appears unlikely.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" title=\"S&amp;P 500\" alt=\"S&amp;P 500\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-31-spx.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 1500 + ( 1500 &#8211; 750 ) = 2250<\/p>\n<p>The CBOE Volatility Index (VIX) spiked up, but remains below 20 &mdash; values normally associated with a bull market.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" title=\"VIX Index\" alt=\"VIX Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-31-vix.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p>What caused the sell-off? Commentators seem puzzled. Theories advanced vary from Argentinian default to developments in Eastern Europe. Neither of these seem to hold much water: the market has been aware of the risks for some time and they should be largely discounted in current prices. My own preferred theory is the expectation of a rate rise from the Fed. With good GDP numbers and falling unemployment the Fed may be tempted to tighten a lot sooner than originally expected. Even oil prices are falling. High crude prices is one of the reasons for the cautious Fed taper so far.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" title=\"Nymex Light and Brent Crude\" alt=\"Nymex Light and Brent Crude\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-31-crude.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p>Which makes me suspect that this correction is going to end like the last &#8220;taper tantrum&#8221; &mdash; with a strong rally when the market realizes that economic recovery will lift earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dow Jones Industrial Average fell 1.88% to close at 16563, breach of 16750 warning of a secondary correction. Decline of 21-day Twiggs Money Flow below zero would strengthen the signal. Breach of primary support at 15500 is unlikely and the trend remains upward. * Target calculation: 16500 + ( 16500 &#8211; 15500 ) = 17500 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/31\/what-caused-the-dow-sell-off\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;What caused the Dow sell-off?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,44,57,34],"tags":[64,495,615,1113,2527,3010],"class_list":["post-10476","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-crude-oil-natural-gas","category-stock-markets","category-us-canada-countries-regions","tag-vix","tag-brent-crude","tag-cboe-volatility-index","tag-dow-jones-industrial-average","tag-nymex-light-crude","tag-sp-500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What caused the Dow sell-off? - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What caused the Dow sell-off? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Dow Jones Industrial Average fell 1.88% to close at 16563, breach of 16750 warning of a secondary correction. Decline of 21-day Twiggs Money Flow below zero would strengthen the signal. 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Decline of 21-day Twiggs Money Flow below zero would strengthen the signal. 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","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5","name":"ColinTwiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","caption":"ColinTwiggs"},"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-2IY","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":10592,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/11\/dow-and-sp-500-find-support\/","url_meta":{"origin":10476,"position":0},"title":"Dow and S&#038;P 500 find support","author":"ColinTwiggs","date":"August 11, 2014","format":false,"excerpt":"Dow Jones Industrial Average continues to test medium-term support at the December high of 16500. Breach of support would warn of a correction to the primary trendline \u2014 at 16000 \u2014 while respect of support would indicate another attempt at 17000. Failure of primary support at 15400\/15600 remains unlikely, but\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-12-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-12-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-12-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10641,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/19\/dow-heading-for-17000\/","url_meta":{"origin":10476,"position":1},"title":"Dow heading for 17000","author":"ColinTwiggs","date":"August 19, 2014","format":false,"excerpt":"Dow Jones Industrial Average is headed for another test of 17000\/17100 after finding support at 16400\/16500. Recovery of 13-week Twiggs Money Flow above its July high would indicate that buyers are back in control. Breakout above 17100 would offer a target of 17500*. Reversal below 16400 is unlikely, but would\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-19-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-19-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-19-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10539,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/05\/dow-and-fedex-find-support\/","url_meta":{"origin":10476,"position":2},"title":"Dow and Fedex find support","author":"ColinTwiggs","date":"August 5, 2014","format":false,"excerpt":"Dow Jones Industrial Average is testing medium-term support at the December high of 16500. Respect of this line would indicate a healthy up-trend, while breach would warn of a correction to the primary trendline. Failure of primary support at 15400\/15600 remains unlikely, but would warn of reversal to a down-trend.\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-05-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-05-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-05-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10734,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/26\/dow-signals-fresh-advance-2\/","url_meta":{"origin":10476,"position":3},"title":"Dow signals fresh advance","author":"ColinTwiggs","date":"August 26, 2014","format":false,"excerpt":"Dow Jones Industrial Average recovered above 17000, signaling a fresh advance. Follow-through above 17150 would confirm a target of 17500*. Leveling off of 21-day Twiggs Money Flow in recent days, however, indicates (short-term) resistance. Reversal below 16950 is unlikely, but would warn of a test of 16750. * Target calculation:\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-26-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-26-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-26-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10791,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/09\/03\/dow-finds-support\/","url_meta":{"origin":10476,"position":4},"title":"Dow finds support","author":"ColinTwiggs","date":"September 3, 2014","format":false,"excerpt":"Dow Jones Industrial Average retraced to test support at 17000. Respect is likely and would indicate a fresh advance. Follow-through above 17150 would confirm a target of 17500*. Recovery of 21-day Twiggs Money Flow above its July peak would strengthen the signal. Reversal below 16950 is unlikely, but would warn\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-03-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-03-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-09-03-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10440,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/29\/dow-and-sp-500-remain-bullish\/","url_meta":{"origin":10476,"position":5},"title":"Dow and S&#038;P 500 remain bullish","author":"ColinTwiggs","date":"July 29, 2014","format":false,"excerpt":"Dow Jones Industrial Average found support at 16950, with long tails indicating short-term buying pressure. Recovery above 17075 would indicate a fresh advance; above 17150 would confirm. A close below 16950 is less likely, but would warn of a correction to 16500. The decline of 21-day Twiggs Money Flow indicates\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-29-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-29-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-29-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=10476"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/10476\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=10476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=10476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=10476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}