A Historic Week in Review

It was a week of Global Market Panic!

Massive Wall Street Sell off. Most major stock indexes down 15% – 18%

Credit:MarketWatch.com

Dow -18%
Nikkei -24%
Hang Seng -7.2%
China’s Shanghai Composite -3.6%
Australia’s S&P/ASX 200  -8.3%

Mortgage Rates
The 30-year loan averaged 5.94%

Foreclosure Industry
Home Foreclosures set an all time High. California and Florida led the way.

• California and Florida represents 39% of foreclosures
• 9% of mortgage loans are in the foreclosure process
• Subprime loans represent 36% of all foreclosures

Read More here.

The U.S. Dollar, Oil, Gold
U.S. Dollar = 82 .DXY (15 month high)
Oil = $78 (A one year low)
Gold = $848

Summary:
Where are we on this chart?
I heard the term “capitulation” used on CNN last night to describe the market place. I am not sure we are done with the Panic stage yet? In any event we have a long ways to go before we hit the “hope” stage.

I found this image on many different blogs so I am not sure who to give credit?

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