My macro indicators flipped red in a huge move. Corrections don't normally start like this, but nothing about the market this year is normal. I'd typically be looking for this to be the start of a big correction but the speed and severity of this drop off ATH with no lead-in has me cautious on continuance short.
Intraday the best analogies I have are all dumps after rips off the bottom in 2009, 2011, 2018, and 2020. So this coming day after ATH....not sure it has a precedent.
Intraday the best analogies I have are all dumps after rips off the bottom in 2009, 2011, 2018, and 2020. So this coming day after ATH....not sure it has a precedent.