Bearish Pressure Builds
It happened yesterday. The S&P fell again and closed below the 6,500 support level, finishing at 6,477 - a clear bearish signal. There’s still a chance today to recover and end the week back above this threshold. If that fails, the next stop could be around 6,100, where the next support zone sits.
To be honest, I’m not convinced we’ll see a sustained recovery anytime soon. We just made a fresh 6-months-low. The Iran conflict continues without meaningful progress, and oil has climbed above $100, which is likely to push inflation higher globally.
The odds of a broader bear market are rising, and it’s something we should be prepared for. Some blue chips are already showing weakness, Microsoft, for example, is down more than 20% from its all-time high.
Manage your expectations, that’s the best way to navigate market corrections. They happen, they’re normal, and eventually, they pass.
Indian sensex also lost more than 2% , to be precise 2.25% in a single day.
A real bloodbath now,
Heard of India, stocks suffer quite a lot over there since India is very dependant on oil.
Hike in Oil price and weaking of Indian currency against USD is giving double trouble.
🥴
Friend, you can publish the index seven days a week if you want. But I'll tell you the same thing every day of the week. The way things are, I don't think it's a good idea to take the risk. There's more to lose than to gain.
If you publish the index every day of the month, I'll tell you the same thing.
Happy to hear ypur opinion but it will not change the fact that for global stock markets that index is the gold standard. Doesn‘t mean you have to buy an ETF on tjis index. It‘s more of a barometer for the markets sentiment. A heat index for investors.
Just monitor if there are big candles like last time, inside trading will be rampant
👀 We will see
Get ready for some announcement tomorrow!
What do you expect?
something Iran related for sure, not sure if a "deal" or an escalation though
https://peakd.com/hive-124838/@davideownzall/re-peaksnaps-tcjuc8
Fingers crossed for the first option.