Re: Is the US stock market going to falling into a correction?
The US stock market closed this week in the red zone. The S&P500 index could not preserve the level 3000 and we saw that somebody was selling off the equities during last couple of days.
Why it might be so important? As we know the stock market is pretty overbought especially such the giants like Amazon, Facebook and so on. As far as I know plenty of traders are waiting a quite strong correction (10-30%) and there is the crucial question for many traders, I mean, is it the new correction or it is just the trap for bears?
Why it might be so important? As we know the stock market is pretty overbought especially such the giants like Amazon, Facebook and so on. As far as I know plenty of traders are waiting a quite strong correction (10-30%) and there is the crucial question for many traders, I mean, is it the new correction or it is just the trap for bears?
the eternal question when it comes to the SPX......
i think it makes sense to wait and see whether the $2870 area holds. that was the prior top in january and should be support if the market is still bullish. price has not fallen below the previous high, and the uptrend from 2011 is still comfortably intact. no momentum or volume to the selling yet. no reason to be too bearish yet.
By the way does anybody have a short position in S&P500 and what is the price?
when it comes to the USA stock market, the correct play for many years has been keep betting on the trend until it ends. i'm definitely not short. i don't try to catch tops on stock indices. too many people have died trying to fade the SPX (rest their souls).
