All the market needed was a news catalyst to start a pullback.. which was a good thing..
why a slight pullback now is good.. many investors have been pouring their capital into chasing after these all time highs by companies performing well.. the reality is buyers are exhausted and its time to cash out profit, let the market pullback abit, then enter again at a good price.. market is not really gonna crash as many experts are painting.. its just a fear mongering tactic..
pullbacks are normal and it gives more opportunity for the market to go up higher..
However, how much will the market pullback… i would look at it as 5 - 10% max.. and this is across a period of time.. not in a single trading day.. if in a single trading day, thats a crash… lol… across how many days i would not know but the major events this week and next week will determine…
we got powell on Wed and Thurs, AVGO earnings Thurs, Jobs report Friday, triple witching hour next week which many options will be expiring… the market might bounce if AVGO report outstanding earnings and the chip names will continue to fly…
no one has a crystal ball and we can’t predict the future.. technicals will just tell us the trend and probable behavior but news catalyst is something we can’t control..
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I ain’t any guru… i follow technicals and trend line of the market
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102472973 : Ask Mr Powell to do the job lol
OceansWaveOP 102472973: Typically Congress will trigger off something.. they will be pressing Powell to cut rates but Powell and team will not want to cut and there is nothing congress can do about it… that saying, the last rd of such hearing, end up SVB and FRB both collapsed… lol
Ultratech 102472973: he has been.