It might finally come.
Pretty big technical event today. S&P close below 200SMA for the first time since last Oct. It could face a big correction finally. The exact path and target is hard to project for a correction like this. Since this correction is higher in degree compared to the nikkei is in. I expect this one to be deeper and/or longer. Check the big RED pitchfork I draw. The fact that we are in a big correction doesn't mean We couldn't make new monthly high. Be very cautious about this one.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.