Part of my trading is intuiting correlations.
Over the past few days (up until today) the DOW and S&P were behaving in an uncharacteristically uncorrelated fashion. The S&P was weak as the DOW was holding it's levels - mostly to due to the tech weighting of the S&P and the weakness in tech.
Well, today's -140 on the DOW, I think, has brought things back into balance. Normally, I would anticipate negative momentum going into tomorrow's market. However, since I feel tech is due for a bounce, do you think that the DOW will follow the S&P tomorrow (5/12) and bounce with it?
Thanks!
Over the past few days (up until today) the DOW and S&P were behaving in an uncharacteristically uncorrelated fashion. The S&P was weak as the DOW was holding it's levels - mostly to due to the tech weighting of the S&P and the weakness in tech.
Well, today's -140 on the DOW, I think, has brought things back into balance. Normally, I would anticipate negative momentum going into tomorrow's market. However, since I feel tech is due for a bounce, do you think that the DOW will follow the S&P tomorrow (5/12) and bounce with it?
Thanks!