All major indexes started the week with a down gap and have continued sinking so far.
These are the fact we should pay attention to:
1- 4786 out of 5816 traded assets are trading at lower prices today, 82.2%.
2- All major indexes trading below their 50 days moving averages
3- They are all trading near to the lowest daily numbers, which shows they are not settled down.
4- They just experienced 4-7% correction from their tops..!
5- This is the longest time in the history of the S&P 500 without a 10% correction.
6- September historically is the worst month of the year in comparison to other months in the past 70 years.
7- This correction must be considered as a correction unless we have enough evidence of trend reversal.
8- S&P 500 and Dow Jones have been closed at lower numbers 8 days out of the last 10 trading days, and NASDAQ 100 and Russell 2000 7 out of last 10 days closed at lower numbers! this clearly showed in short term more correction is more likely..!
In conclusion, I believe we should wait for a sign of reversal, and we do not have any sign yet.
Being ready is important:
Let's review the process of this analysis in the past few weeks:
DISCLAIMER
I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
These are the fact we should pay attention to:
1- 4786 out of 5816 traded assets are trading at lower prices today, 82.2%.
2- All major indexes trading below their 50 days moving averages
3- They are all trading near to the lowest daily numbers, which shows they are not settled down.
4- They just experienced 4-7% correction from their tops..!
5- This is the longest time in the history of the S&P 500 without a 10% correction.
6- September historically is the worst month of the year in comparison to other months in the past 70 years.
7- This correction must be considered as a correction unless we have enough evidence of trend reversal.
8- S&P 500 and Dow Jones have been closed at lower numbers 8 days out of the last 10 trading days, and NASDAQ 100 and Russell 2000 7 out of last 10 days closed at lower numbers! this clearly showed in short term more correction is more likely..!
In conclusion, I believe we should wait for a sign of reversal, and we do not have any sign yet.
Being ready is important:
Let's review the process of this analysis in the past few weeks:
DISCLAIMER
I’m not a certified financial planner/advisor nor a certified financial analyst nor an economist nor a CPA nor an accountant nor a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.