SP500 index is hard hit
SP500 index lost all gains from previous 5 weeks during last selloff . It is not bullish sign. Some correction is in front of us. Index can easily drop to 1000 pt level. It is time to be cautions and think also about short sell trades.
February 4th, 2010 at 6:44 pm
Nice call on the dip, goot timing too! at 1071 today and looking for lower mabye settle on the 200dma or maybe retest recent lows.
Ever since lows around election, been feeling like this was a bounce, not quite dead cat. won’t feel safe until we pullback and bounce from lows or bounce before hitting lows. good luck.