Not even a 1% drop today. It's pathetic how it always has to gap down and can never stay down. Another much to do about nothing down day. I'm sure it will magically go back up the next few days.
There's a reason this is the greatest, most dominant, most unstoppable bull market ever. Look at it go again. As expected the mini drop from yesterday couldn't survive. Just an explosion higher around 10AM. Really nothing was accomplished, 2 gap downs that instantly got bought. And you think this market is really going to go down?
Yeah when any red is just eaten up so easily there's just no risk ever in this market. I think the last time this put consecutive real red days together was back in November. Every red day like yesterday is a layup that it will bounce back very fast.
And now energy has moved out of the "stabilized for now" realm as the XLE hits a nearly 10 year high. And while today's sell-off was shockingly quick, bear in mind it's barely 1%. If the dip buyers don't step in, a healthy pull-back might just be getting started.
It took 3 months to run the market up over 11%. Now take a guess as to how long it would take to erase all that gain. Probably in a matter of just a couple weeks. (But we're in a bull market, you know.)
%% IS that some kind of cool husky sled dog??LOL Cool Seldom do good SPY + related profits get erased in a day\ QQQ even worse today .Good thing \not in TQQQ. Good trades on SPXS related................... Crashing thru 50dma does not mean bull is over LOL. I dont trade ES, but ES= like SPY=good benchmark; barchart.com has ES an 8% buy doWn from 100% buy last week, but that just technicals, for traders , not investors .
That's an Elon Musk Shiba Inu doggy named Kabosu. Not sure what Elon named his. They are cute though. And when Elon makes Twitter a payment platform, those doggy Dogecoins represented by Kabosu are going to the moon. %%%Not a prediction. Not FDIC insured.