Been saying this for a month or more. Even lost money buying puts thinking it was going to find it's final low while it never did.leoj said:
Another thing to keep an eye on, 8 month long consolidationUpper channel - expect resistance and some volatility coming in. pic.twitter.com/e8x1CNbfJD
— Scot1and 📈🥃 (@Scot1andT) October 26, 2021
But it still could. If you really think about it, Russell, Dow, Nasdaq and S&P were moving hand in hand. Huge bull runs over the last decade. All dipped during Covid. But Russell got so far over extended over the others it tanked in March (small cap sell off) and then went sideways as it was extremely over sold. Since then, it's almost like it's been waiting on the others to catch up.
So either all of the indexes are about to have a small correction and then enter a huge bull run, or all of the indexes are going to have a larger leg of the past month's correction, bottom, and then start a massive bull run. Because they are all caught up.
I'm telling you.. the next 2-4 months.. it won't matter what you bet on. Everything will be rampaging higher. Just know where the tops are (I'll provide wave counts on all indexes) so you don't get stuck like a lot of us did this past March.