Since Friday, we have not moved anywhere on the $SPY+0.6% and are stuck in a sideways trend below significant resistance while the tech $QQQ+1.0% fell 1.7% yesterday
Technology stocks took a hammer to the head yesterday. It will be interesting to see where the market decides to move. Which way do you lean?
For me, a correction wouldn't hurt, but this market is still very much in hype, so I prefer not to trade anything.
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Agreed, it needs a correction, maybe even a drop and then further up.
A correction would be in order...
I buy bonds and when they go up and stocks go down I sell them and buy ETFs.
I think it might just be a slight correction before an even bigger hype. My guess is that people who didn't hold before will buy and still those big tech companies will fly up maybe 5-10%.
A correction wouldn't really hurt, but I'm not counting on it. The optimism in the markets is huge.