Buy the blood!

 There is a lot of blood on the Street now! As a trader, this is the best time to buy when the bloody street is full of fears😋😜

This is exactly what I'm doing these days when the market making new lows seemingly everyday. But at this level and condition, it is inevitable to see a violent rebound at any moment. Actually in the past year or so when we saw similar extreme fear and extreme oversold conditions, SPX jumped 300-400 point within a week or two. That's kind of rally I'm looking for! 

Technically the best thing traders can expect is to see a big gap down below a major support and then climbing up and closing above the support. This is exactly what the market has done today: SPX was smacked down all the way to about 5666ish but closed well above its critical 200 DMA around 5730ish. A V shape rally is coming!

Here is the quote best describing why it is a great time to buy: