5th Anniversary of Flash Crash of 2010

05/06/2015 7:00 am EST

Focus: MARKETS

Christopher Terry

Founder and CEO, iMarketsLive

Christopher Terry, of iMarketsLive.com, shares a video in which he harkens back to the Flash Crash of 2010 for a comparison to the current market. He reviews the charts of the S&P 500 E-Mini Futures and illustrates that the market is now forming a larger-term 60m chart triangle.

Wednesday marks the five-year anniversary of the Flash Crash of 2010, which wiped out $1 trillion and shook the markets at the drop of a hat. On May 6, 2010, the Dow Jones industrial average plummeted roughly 1,000 points only to recover in the span of a few moments. On Tuesday, May 5, 2015, the markets sold off in front of the anniversary.

However, on Wednesday, overall, it now appears that the market is essentially filling out a large trading range and traders should watch these key zones around the large triangle pattern that is starting to form. This type of market can start to fill in over the next few weeks, so traders should not be looking for any big, long-term moves, but rather, some short-term scalps at these levels.   


By Christopher Terry, Contributor, iMarketsLive.com

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