The S&P 500 hit the mid 3850 region as we have been expecting and we saw a bounce from that level. Here's the kicker, there seems to be more downside to come. At a market bottom, price action is panicked get out at all cost selling. While the selling last week was extremely broad across the market, and a few stocks got hammered significantly, such as COIN, the overall market didn't trade that way.
Short-term - Expect a bounce up to the 4200 region.
Medium-term - The next leg down will be vicious and will make new lows. Our targets are 3600 and 3200 region.
Long-term - Identify stocks you want to own for the next 10 years and buy them at a discount when they hit these new lows.
I'll update my Twitter over the next few days with potential long plays when the next leg down happens. DYOR
Short-term - Expect a bounce up to the 4200 region.
Medium-term - The next leg down will be vicious and will make new lows. Our targets are 3600 and 3200 region.
Long-term - Identify stocks you want to own for the next 10 years and buy them at a discount when they hit these new lows.
I'll update my Twitter over the next few days with potential long plays when the next leg down happens. DYOR