Market Correction Incoming? Good.
Hey, it’s Ross Givens here with the Chart of the Day. n the past six weeks, the S&P 500 has surged by 5%, a substantial rally. However, a closer look reveals an unexpected divergence – fewer stocks are trading above their 200-day and 50-day moving averages. This contrast raises cautionary flags despite the broader market’s all-time highs. While I don’t foresee an imminent bear market, a pullback or pause seems due after the rapid ascent. Join me in today’s Insight as we navigate the current market dynamics and prepare for potential shifts.
February 12, 2024
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