We find ourselves in that no man’s land of deciding was that the overdue correction or is there still more to come. As we know nothing is simple in trading markets – if it were easy then we would all be rich.
I wrote this line yesterday after the market had bounced more than 1.5% (i.e. when I commonly refer to the market I am referring to the US S&P 500). Today I write the market is down -0.73% so the question is further amplified. In the coming days I will try bring some context to where we are in this crazy market cycle and then try and position for a more probable event.
I hope you will notice throughout my postings that I will refrain from making absolute market calls, as there are no such things only probable outcomes.
To see how shallow the pullbacks have been over the last 1000 days see below.