SOURCE: YAHOO FINANCE
ARE YOU FEELING SCARED?
If you are, that’s ok. It’s just normal reaction. Let’s try to understand the reasons for this correction. This correction was due already for a number of technical reasons. For example, look at the divergence in Price Action and Money Flow. Clearly, the money flow was going down the other direction.
Fundamentally, the corona virus is going to impact the SPX earnings and thus revision of Price Targets.
Tomorrow, we are hoping to see much awaited 10% correction. SPX is already down 8 % below all time high. We will also see a retest of 200 day MA surely tomorrow or Friday.
Get ready for some sort of bounce back from here.
KEEP CHECKING US OUT AS WE KEEP UPDATING HERE WITH NEW POSTS/ IDEAS TO UPDATE ON THE MARKET TRENDS.