No doubt a correction is coming. Best thing you can do is ignore the clowns and focus on the chart. Clueless people are everywhere.
MacBull1557
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yes and NO, your levels will hit the 401 then bulls will step in, this is where most likly to happen, because this is significant level for bull rally on very strong support if you look at the SPY since 1925 , that used to be very strong resistance, breaking 400 is bad bad and not your 390 will hold after that. a signifcant down trend could be triggered. on the other hand , bouncing from the 400 we will end up at 480 year end , it will be great to see that happening. reason i don't think the bad senario going to happen is because we usually get bear market once every 4 years, and we just got one so it's very unlikly. bulls will step in at 401 if they want to continue.
pogicraft
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maybe, but can't call it a huge correction when its barely 6%
QUANDRANTS
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what the f...Dude, a HUGE correction is 15%-20% sell off. Your chart as shown illustrates a 5.3% dip followed by a 9.3% rally. That's not a huge correction, that's a buy-the-dip scenario LOL. Average S&P correction is 10%.
All things being equal, I think the lines you drew look actually pragmatic. I'm eying an 8% drawn down by June 21st with a lot of sideways churn between now and then. Spend a little more time on your chart work to express that huge correction and I'll have another look 🤙🏽
TraderNoah535
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@moveforward01, I try to make the chart simple for people that are new to the stock market, studies, etc.
QUANDRANTS
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@TraderNoah535, if you're going to plain-speak to rookies, drawing one thing and calling it something else is helping how?
TraderNoah535
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I'm just getting a general message out, so people can then do their own DD.
BigLed75
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Well done following almost exactly so far. Bough some spreads on the VXX already up 20%.