Thought for the day, plus some posts of interest!
Ugly week in the markets, but I think this is the long awaited pullback we've all been expecting. Question is if it will just be a correction (-10%) or go into bear territory (-20%). The S&P is now down -8.31% from its high on 5/20/15. It is just slightly below support of the low on 12/16/14 of 1972.56 (see chart below). If we continue down next week, the next support level is 1820.66, which would give us a -17.25% correction, so lets hope that doesn't happen! I'm in cash with my trading account, and I have 2 investments that I might cash out soon to protect my principle if we continue down.
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