The DOW fell 220 points yesterday as investors took risk off as recent rallies have fizzled out. EU and UK revisions on growth forecasts have further unnerved a market that is pointing towards lower global economic growth.
Asian markets are following suit as I write with the Nikkei225, 423 points lower and the Hang Seng, 135 points in the red.
I mentioned in last nights trade review about the possibility of a short squeeze into the close and not to get caught out. We got the short squeeze with a rally of 120 points into the close and I got caught out! I cut some of my position but with DOW futures now 100 points below the closing level have been able to take profits.