All Savvy Market Investors Are Prepared for a 10% Correction
$DIA, $SPY, $QQQ, $VXX
All savvy investors know that it is just a matter of time before this Bull market leg hit end and the market will have a healthy 9-11% correction.
A 10% correction could come at any time, and particularly when the market has done as well as it has done.
It has gone straight up since Donald Trump was elected our President
The market is overbought and investors are optimistic. An overbought market with overly optimistic investors is vulnerable.
Big Q is what will trigger the vulnerability?
Keen market observers also know that the market could just pause to refresh, and not hit a long slide.
Strong earnings and solid economic growth have pushed stocks to record levels this year and Republican efforts to cut corporate taxes have added to the momentum.
The Senate Republicans Wednesday agreed to talks with the House of Representatives on the tax bill amid early signs that lawmakers could agree on a final bill ahead of a self-imposed 22 December deadline.
President Donald Trump and Congress are in discussions over the passage of spending legislation has raised fears of partial shut down of the federal government, the House has agreed not to shut down, expect the Senate to align Friday.
Thursday, the US major stock market indexes finished at: DJIA +70.57 at 24211.48, NAS Comp +36.47 at 6812.83, S&P 500 +7.71 at 2636.98
Volume: Trade on the NYSE came in at:824-M/shares exchanged
- NAS Comp +26.6% YTD
- DJIA +22.5% YTD
- S&P 500 +17.8% YTD
- Russell 2000 +12.0% YTD
|HeffX-LTN Analysis for DIA:||Overall||Short||Intermediate||Long|
|Very Bullish (0.64)||Very Bullish (0.51)||Very Bullish (0.73)||Very Bullish (0.67)|
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.49)||Bullish (0.46)||Bullish (0.44)||Very Bullish (0.58)|
|HeffX-LTN Analysis for QQQ:||Overall||Short||Intermediate||Long|
|Very Bullish (0.50)||Neutral (0.07)||Very Bullish (0.77)||Very Bullish (0.67)|
|HeffX-LTN Analysis for VXX:||Overall||Short||Intermediate||Long|
|Bearish (-0.33)||Neutral (-0.23)||Bearish (-0.46)||Bearish (-0.29)|
Have a terrific weekend.