And next week should see Steinhoff collapse even more.... Short term momentum is getting ready to break down.... Fundamentally it's called "capitulation" or "throwing in the towel". It's a classic bear flag i.e. after a big fall, market trades sideways as momentum recovers back into positive territory, then finally breaks back down, as it must. The explanation is that buyers finally get tired of holding up the market, the weak longs start to get taken out, and finally everyone decides they've had enough. Voila, le "crash".
