Current Market Conditions

piezoe · Feb 28, 2020

Yup. It didn't take long!

to get to 2870, actually a few points more before the bounce. A little bounce at ~2800 should be next then ~2650 , which would be ~20% correction from the top. I'd be a little surprised if we go much beyond 20% correction. It's OK by me though, as this sell-off was sorely needed to wring out some of the ridiculous excess. If the Fed cuts the funds rate, I think that may send market lower by confirming the fear that's out there. Good for traders.

piezoe · Mar 1, 2020

piezoe said:
Yup. It didn't take long! to get to 2870, actually a few points more before the bounce. A little bounce at ~2800 should be next then ~2650 , which would be ~20% correction from the top. I'd be a little surprised if we go much beyond 20% correction. It's OK by me though, as this sell-off was sorely needed to wring out some of the ridiculous excess. If the Fed cuts the funds rate, I think that may send market lower by confirming the fear that's out there. Good for traders.

Actually I like my earlier 2750 estimate a little better ~ 19% correction. Expect a bounce there and maybe end of selling for time being, but certainly lower in not out of the question..