Episode 118: The DOW is not only negative for the year, it’s also hovering just above its 200dma; the S&P500 is significantly below its 50dma; and the NASDAQ is struggling to hold its 50dma.
The positive news is that trade volume has been light, so there isn’t huge Institutional selling.
Is this foreshadowing of the long awaiting correction or just normal market vacillation?
Too early to call. This market has a distinct habit (PERSONALITY) of trading within a 3% range and pulling back around 6% before breaking out to new highs.
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