📈 Market Update

Have we bottomed or are we going lower?

Market Action

Yesterday didn’t solve very much in the market. We didn’t see much constructive movement that gives us signs of a bottom from a technical standpoint.

We will need to continue to see how the next few days play out before having a real indication of where we are going to move.

One thing that can be helpful for everyone is understanding that this can get worse.

Will it? Who knows. But understand that it can, and you need to adjust your risk accordingly. Right now capital preservation needs to be your top priority.

Using Fibs, you can see that the measured move down from Powell’s press conference gives us significant room to the downside.

That target price does line up with a potential support level on the S&P futures. So understand that this is a possibility for us if we break Tuesday’s low.

There is a lot more to talk about with respect to how the market is acting and what I think may be happening right now. I walk through a number of indicators and signs that I am seeing in the video below: