Get ready for an 8% to 13% stock market correction

When should we expect the market decline to begin? Martin says that it’s impossible to say, though added that it may have already started with the big decline in Thursday’s trading session. In any case, Martin says it’s safe to assume that “the decline will start in the next month or two, if not sooner.”

https://www.marketwatch.com/story/get-ready-for-an-8-to-13-stock-market-correction-2018-10-04

 

Who is Martin? Never heard of him...

 

BUY SIGNAL!

 

Not Yet

 

When should we expect it? When it actually starts to happen.

 

Many technical indicators on a daily basis, and higher time frame, are diverging with January's readings.

And Dow cash index was an island reversal on Wednesday.

So .....

 

I would like to see 1 more squeeze up on the ES to 2950, retest that high by a hair...then I am buying some SPX puts in size.

I'm going to be shorting NQ's tonight though for tomorrow's move down...but that is just short term crap.

I've been trading like crap lately, so don't follow anything I say.

 

I like this vol trader’s reasoning for more upside to SPX:
https://www.finomgroup.com/watch-the-media-cycle-drive-interest-rate-fears-again/

 

I noticed similar propaganda by the media lately about the market is crashing. Fundamentally, the economy is fine. The only reason I could think of is political. Trying to get everyone to sell their holdings and crashes the market.

 

These sorts of stories are a good way to get your name noticed and for the media to report news when there is no news.

But who acts on this stuff? Not the long-term investor nor the long-term trader like me, we already planned for making a profit out of bad things. Nor the day-trader, who has a plan to trade short-term for a minute by minute hour by hour profit regardless of the longer term market direction.

So I guess these stories are for the guys who don't have a plan. I wish them luck to make up for their lack of brains.

But do these distinguished economists and analysts and business journalists seriously want to pitch to the recruitment panel at their new job, "You should take me on because I want to write for your most stupid readers/viewers/clients, and you have lots of them and I can get you more"? Surely not. No, these stories are purely for for the benefit of the writer, the quality of the evidence contained is irrelevant.