With February upon us, we have to wonder how much farther the market will fall. The S&P 500 is right at the trend line support levels and the MACD is reaching extreme, negative levels.
For the second straight day, the major indexes stalled closing just below yesterday’s final mark. While we haven’t seen definitive signs of a top (short-term or long-term), it does look like the momentum is gone and volume is turning bearish.
One thing that definitely looks like a possibility is another pullback. There are four visible on [...]
And just like that, the rally is history. Today was the second major day of selling as the major indexes closed down over 2% – some closer to 3%.
The market is in correction and now the big question most investors will have is how far will it fall. Nobody knows, but all we need to do now is ride the wave down.
