So far this looks like a normal correction, even though it was slow to get started and we have multiple world crises underway. While the S&P moved up, the volume indicator moved down. Volume was a little low today. We need to see higher volume on the up moves to show some conviction as an indication that we might be moving in a positive direction. We can expect more downside ahead. At this point though, I am sticking with our earlier guess of a 10% correction from the top.
Tomorrow is options expiration – it may be a wild day.
The overall Navigate the Stock Market analysis was SELL today;
but if you haven’t sold already it is hard to know what to do. The NTSM system calls tops and bottoms – a later buy or sell signal presents the market conditions, not a recommended action. We really don’t know how far the market may fall…or even if it will continue to fall. (See the page How to Use the NTSM System).
