Top Tweets Today-24/08/2015

Panic set in from the start of trade this morning with pressure coming from Asian market who ended down heavily in a bloodbath. Dow Jones Industrial Futures, S&P 500 Futures and Nasdaq were all down over 6% before the start of trade on Monday!!! The Nasdaq Futures short circuited 3 times halting trade to allow enough time for trade to once again settle. If this market is to have any reminiscence to the previous Black Monday, we'd need to see more vigorous moves, at the time of writing this; 17:00 South African time there has been a bounce upwards with the S&P 500 futures down now only down 2.5% so slowly clawing it's way back but anything can happen.

#BlackMonday Is Trending on Twitter http://t.co/CTTzIrL13U pic.twitter.com/RceBBVysQw

— Julie VerHage (@julieverhage) August 24, 2015

Continuing from our lead story an interesting piece posted on Business Day in  which the author explains how we shouldn't expect a good story to come out of commodities anytime soon. I tend to agree. Most miners geared up heavily thinking they were going to be seeing 12% + growth for a number of years and unfortunately that hasn't risen. Now if we were to assess the situation today it doesn't seem likely that the Chinese economy will see growth rates as before anytime soon given the contagion in their financial system.

Commodity rout unlike 2008 recession, no China to the rescue http://t.co/3SMYqpCUXO

— BDlive (@BDliveSA) August 24, 2015

Today is all about the global markets crash and this video describes perfectly what it felt like to be a bull today. Global markets have been artificially fuelled by cheap money and bulls have had it relatively easy the last while thus building a sense of complacency and anyone who's been in the markets long enough knows with complacency comes a sudden amnesia of what's really going on.  

bull traders pic.twitter.com/l7YCMSAsDW

— CalConfidence (@CalConfidence) August 24, 2015

The guys over at StockTwit who post brilliant charts of interest show this chart which is a monthly time frame with a 12 month moving average put on top. What the chart suggest is that key price levels cross under this moving average you generally find a pullback in price. Can it be proven to be true, we'll have to wait and see.

This crossover doesn't happen often. But that's why it's a MUST-SEE. By @jdmarkman: http://t.co/mCrMcaQTBT $SPY $SPX pic.twitter.com/9JazyacTkX

— StockTwits (@StockTwits) August 24, 2015