Recent declines in the stock market have got it edging down very close to official "correction" territory. A market correction is a ten percent decline in the S&P 500 but less than a twenty percent decline (which would qualify as a bear market).
Oscillators are already stretched to the oversold side, so we're due for a positive bounce on Tuesday. Unfortunately, oil-related and war-related news will continue to be the driving factors here, not technical indicators, so looking at the chart doesn't do any good unless we can go the whole trading session on Tuesday without any news whatsoever.
I've already been stopped out of one position, and I'm close on a few others.
I don't know what will happen this week, but I know supply disruptions in the oil and fertilizer markets are serious issues that could become catastrophic issues if they continue for much longer.
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