Carnage In The Stock Markets

Dow $DJI NOW TRADING 4000 points for the week
 Thursday's declines put the Dow and S&P 500 down more than 10.5% each for the week, on pace for their worst weekly performance since 2008. 

Stock markets are down principally because of the 

coronavirus hype and fear being publicized by the media. Otherwise the U.S. economy was doing ok. A weaker one or two quarters are now discounted, with Goldman and others calling for zero profit gains this year. 

Friday February 28, 2020 

The Standard & Poor 500 Index ($SPX) index is now trading into the support  levels of 2'800 to 3'000. The RSI (Relative Strength) is deeply oversold. 

The Volatility Index (attachment 2) has reached a level last seen in February and December 2018, when the market then turned around.

The Fear and Greed Index (attachment 3) is now at 13 (extreme fear). 

Attachment 4 displays the Shanghai Stock Exchange

daily chart. That index should be way down but it is 

not!