I don't think anybody knows why the market fell and fell so much today, technically its still a pattern break/continuation issue, much like a week/a week and a half ago. So we're not actually bearish and we may jump up higher and continue again on Monday. And really there is no reason, unless you want to say the Bed Bath and Beyond thing was stronger than the China debt/slowdown thing earlier in the week -- whatever happened, it brought down the stock market, crypto, and treasury yields to all potentially snap their previous patterns in one day. (one day and a half) We were all waiting for bad news to start shorting the market or more good news to buoy it up to the end of the month. But it could once again, be broken.
Point is nobody knows why and we're still in an upward trend with a potential break, if it continues as such with strength and conviction.
Point is nobody knows why and we're still in an upward trend with a potential break, if it continues as such with strength and conviction.
I usually try not to tell you what to do -- too crowded there. I'll point out what price points/trends/patterns the pros are looking at and let you interpret what that means for your portfolio.