2007 Stock Market Again?
For all of you that believe that the music will not stop, the last couple days might be a wake up call. This is an old bull market which is one of the longest and one of the most profitable. Do not forget not to keep your guard on. That is why you need a complete trading plan.
The stock market got hit very hard today. The market opened lower and stayed down the entire day. All the major averages took hits but the QQQ led the way lower with a decline of 1.73% while the SPY declined by 1.64%. Leading stocks got slammed. This is surprising as the prior day was a nice reversal. Not building on this reversal is not comforting.
For those that follow the Hindenburg Omen, they got ANOTHER signal today. Combined with the one yesterday we have now had seven signals in the last eight trading sessions.
In short order
Can this market bounce back like all the other recent times when weakness was encountered? Anyone’s guess and that is why you need a trading plan. No knows how bad it really can get ….when it gets bad. Who would have thought that in 2008 we would be so shaken….
Have a trading plan. Know what to buy…when to buy…when to exit with a loss or profit…