The 65 week moving average has held all corrections so far in this bull. That would be another 50 points in the S&P. That would give us a 10% correction. A 10% correction is totally normal in bull markets. There is going to be panic selling at the open today. It's probably not the best move to let your emotions take control of you right at the open. If you need to exit so you can sleep at night you might want to let some of the initial panic washout before trading. You'll probably get a better price. I'll be out today. I don't need to watch the market and make a stupid emotional decision today so I'll find something better to do.
I must say that absolutely no one expects the market to be up today. I wonder if the market can confound everyone and do the exact opposite of what the crowd thinks it will do. I guess we'll find out.
Market Direction Change
2 weeks ago