This thread has seen worse, 57% correction in 2008/09 and 30% just a couple of years ago. But lets see how bad this bear market gets! Will it be worse than 2008?
Although I'm not claiming it is highly predictive but initial swing down in Oct 2007 was a -10.79% move in 31 trading days and this move is -12.39% in 34 trading days so greater in time and price equals not a good sign for rest of the year.
Good Lord the pessimism here! It's normal for a 20% correction to occur following a low volatility year we had last year.
LOL here is some more - last time $SPX closer than today was 6/18/21 or over 8 months ago. Pessimism is good when markets are dropping. It might actually get some to think about having stops in place the next time. Or those that have them currently to tighten them. Or still others to not think about catching a falling knife till hits wood ....... or soon thereafter. + + + Keep in mind no one seems to mind the previous 2574 pages of optimism.
Another green day for me but not up nearly as much as I should be. SQQQ is the most beautiful chart ever today
Low volaitlity last year? The VIX hardly ever closed below 15. Pessimism? I remember the last 80% crash in the Nasdaq, wasn't that long ago. I am actually optimistic, i think we might only get a small 50% correction this time
For 2021, the drawdown on the S&P500 was a little over 5%. The average is ~14%. It's expected to see a 20% correction unless it's the 1990's all over again.
I had a surprisingly huge green day today ( was even higher early afternoon but Oil producers sold off their early gains again ). I'm a little heavier then normal in Gold miners overnight so bit of a gamble I stumbled into. I Gold breaks $1920 overnight it will be lucrative but otherwise I'll be looking to sell some off even if it's at a loss.
Here's another cheerful thought we have already retraced 50% of last year, (on a yearly bar chart basis) which also conveniently lines up with 61.8% projection of the prior move of big one in 2007-2008 4257.xx - 4236.xx zone Is this a bottom, doubt it.
from 2012 to 2022...about 10 years stretch....the spy has gained about 221% when spy hit 479 at its high (not counting dividend). now we are about to enter a real bear market. more to drop in the coming days, weeks, or months. year of the bear! let's go...and this time....come join the short party and get paid! don't be the last one to the party!