The put/call ratio is suggesting the correction is not over:
Notice there was no "bearish spike" despite two consecutive days of downside. This is why I think we will see lower prices.
However, this correction will probably not be linear. I expected yesterday to finish up strong but it didn't happen. The market could do it today.
Anyway, if SPX reaches again 1140 I will look to sell for a move towards 1100. If this is indeed a bear market rally chances are we will see a big trend day down during this correction.
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