LONG
Just a warning, the S&P500 has a strong monthly demand at 2900 level and once it gets close to this level it will rally to 3000.
Volatility works both ways; it pushes the market down and creates buying opportunities as crowd panic.
Today the US and Global market went down an average of 1-2% on the US weak manufacturing PMI data.
US manufacturing only makes a small part of the US economy, and the market reaction is more about a pent-up nervousness about the global economy.
The market will eventually go through a correction, but PMI data is not the catalyst.
So, at least in the short term, the drop in the US market will be short-lived at best. The US Market will bounce back by Friday after the US consumer and Job data are released.
The drop in the US market was a panic reaction that has provided a short term buying opportunity for active investors.
Just a warning, the S&P500 has a strong monthly demand at 2900 level and once it gets close to this level it will rally to 3000.
Volatility works both ways; it pushes the market down and creates buying opportunities as crowd panic.
Today the US and Global market went down an average of 1-2% on the US weak manufacturing PMI data.
US manufacturing only makes a small part of the US economy, and the market reaction is more about a pent-up nervousness about the global economy.
The market will eventually go through a correction, but PMI data is not the catalyst.
So, at least in the short term, the drop in the US market will be short-lived at best. The US Market will bounce back by Friday after the US consumer and Job data are released.
The drop in the US market was a panic reaction that has provided a short term buying opportunity for active investors.
