After a couple of weeks of trendless, choppy markets — the low-volume lead up to Thursday’s holiday — the breakouts are giving way and finally showing us a few of those cracks that drive bears wild.
Monday’s renomination of Jerome Powell as Chair of the Federal Reserve drove traders go wild at the open....
But then the big funds had to unwind the hedges they'd put in place in case Lael Brainard had gotten the nod.
That sell-off sparked a downtrend that dropped the S&P 500 about 1.5%, and the Nasdaq 2.8%.
Veteran and casual traders alike need to be careful because I haven't seen the market hold a minus-800 tick like this for months...
As rough a ride as it is, only time will tell if the trend holds past the holiday.
It might sound strange, but a 5% to 10% correction would be a good thing….
Well, thanks to this stock market trigger that’s already allowed me to lock in winners like 36.92% on APTV in seven days… 53.66% on PWR in four days… and even 83.87% on ALB in six days....
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