This is a correction in a bull market. Globally things are changing, we will be welcoming a secular LT bull market soon, and people steeped in the bear bias that paid well for much of the last 12 years will have a hard time. Unless we have a nuclear disaster some some such event, I do not see this correction extending further than another 3-4 %. Look at any daily/weekly chart -- BKX, $BSE, FXI, SPX, DAX, TNX, etc. You'll see a strong bull trend, and support fairly close by. In SPX, it's another twenty points down. We will have a summer to remember.
2 comments:
could not here be a third one, we have seen the top already? and now only down..
This is a correction in a bull market. Globally things are changing, we will be welcoming a secular LT bull market soon, and people steeped in the bear bias that paid well for much of the last 12 years will have a hard time. Unless we have a nuclear disaster some some such event, I do not see this correction extending further than another 3-4 %. Look at any daily/weekly chart -- BKX, $BSE, FXI, SPX, DAX, TNX, etc. You'll see a strong bull trend, and support fairly close by. In SPX, it's another twenty points down. We will have a summer to remember.
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