Are we going to face a strong correction?

We are pretty much where we ought to be, at least with regard to the SPX. I wouldn't get excited unless we break 1900. According to AMT, that would be the most likely place for a reversal.
 
dbphoenix said:
We are pretty much where we ought to be, at least with regard to the SPX. I wouldn't get excited unless we break 1900. According to AMT, that would be the most likely place for a reversal.
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Same call I made. While the Dow had a sharp selloff, the S&P stayed within it's channel. I wouldn't be surprised to see the S&P up next week.
 
dbphoenix said:
We are pretty much where we ought to be, at least with regard to the SPX. I wouldn't get excited unless we break 1900. According to AMT, that would be the most likely place for a reversal.
More...

And, for grins, the NDX. If we bounce off the mean of the next older channel (we just fell out of the most recent one), we'll be doing so at about the same time that the SPX reaches the bottom of its channel (above). If we drop all the way to the lower limit, that'll be 10%.
 
dbphoenix said:
And, for grins, the NDX. If we bounce off the mean of the next older channel (we just fell out of the most recent one), we'll be doing so at about the same time that the SPX reaches the bottom of its channel (above). If we drop all the way to the lower limit, that'll be 10%.
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If grandma had balls she'd be grandpa. God, you're a clown.
 
A strong correction would be VIX at 21 at the most. We are at 17 already which has been a top for a lot of dips.

Buy on the dip is still the mantra. It has been very expensive to go against that.

I don't believe there is a correction left in this business cycle, perhaps a speculative blow off/parabolic top like previous ends. SP500 performance for the last 2 years has just been "too perfect".
 
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