Nasdaq 100 has breached 12,400 level today and S&P 500 is nearing 4,000 mark. If the indexes breach these levels we will likely see a further decline. The next support level at 11,000 and then at 10,000. The leveraged positions are likely to start unwinding as investors capitulate.
A brisk rebound is unlikely as the interest rate hikes and inflation have created a dark recessionary cloud over every aspect of the economy. Hence, we are likely to have further correction.
A brisk rebound is unlikely as the interest rate hikes and inflation have created a dark recessionary cloud over every aspect of the economy. Hence, we are likely to have further correction.