You saw it here first and before it happened. It’s obvious though. Not an especially genius call. Are you positioned to capitalize on the correction?
This chart is from a week ago. 10-year returns still aren’t impressing me at all. This is why it’s important to time the market. The trick is not to get caught up in its micro-moves.
Oh and (SPY: 232.35 -0.65%) has a baddish candle today. I will generously give it another week, then it has to correct (for future reference, closed at $184.91).
Over the past few sessions, volume pattern has turned very bearish.
There are now 2 gaps on SPY – one gap down which will probably be closed soon enough, and the gap up from the start of this year. It will close at some point, given the ongoing instabilities in the world, probably within a few months.
Don’t forget, the fall is typically an unstable time for the markets.