For many reasons I've talked about over the last few weeks, I still believe there is more downside. I believe the bottom will be with SPX 3100-3180 & NDX 9950-10200.
Of course I could be dead wrong, and Nasdaq continues much much higher as things are going parabolic. My view is that long term (over the next 1-2 years) NDX will hit 19k, but until then there will be several corrections... Right now Apple has had several 30%+ corrections, but this one has been only 25% so far. We saw something similar with Bitcoin in 2016-2017, when it had several 30-40% corrections and during its parabolic phase it only had 2 25% corrections... So many Apple is in that final stage and everything else will follow.
Once again I don't see a doom scenario playing out and most stocks look fine, with more potential upside. It is all about the short-medium term before things go bananas!
Of course I could be dead wrong, and Nasdaq continues much much higher as things are going parabolic. My view is that long term (over the next 1-2 years) NDX will hit 19k, but until then there will be several corrections... Right now Apple has had several 30%+ corrections, but this one has been only 25% so far. We saw something similar with Bitcoin in 2016-2017, when it had several 30-40% corrections and during its parabolic phase it only had 2 25% corrections... So many Apple is in that final stage and everything else will follow.
Once again I don't see a doom scenario playing out and most stocks look fine, with more potential upside. It is all about the short-medium term before things go bananas!
