Seasonality says... https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-19#post-5337496
As long as Uncle Jerome continues to pump 120B/month into the markets, it's up up up to the moon! Markets now are one big bubble, filled with new currency that the Fed is regularly creating. Just stfu about inflation.
The market is 30% above fair value. Earnings will increase from all the fiscal spending. Inflation will be limited by small business hardship. Amazing how fast and precise the market counterbalanced the pandemic.
We'll see some topping early May sometime between the 6th or 8th, then a correction, pullback, or sell off however you want to define it until the end of May. The beginning of June should start out strong but won't be able to sustain such strength, could see nice corrections
The Stack/SteukStick/Stonk/Stuck aeiou markets will continue to be tradable every trading day, In May and non-May months It doesn't matter whether the market is going Upon-ly, downonly, sideways, correction, big crash, small crash, to the moon, north south east or west.
I'm long in Sep contracts, so I don't give a darn. I learned that lesson hard. I gots plenty of time.
As of today, I don't see a crash. So I voted small correction, although small is subjective. I suspect a geo-political catalyst for something longer than 2 days worth! LOL
leading indexes show sign of lack of commitment. we MIGHT have a big selloff on Friday [-300 points drop].