deeper correction coming?

After a flurry of excitement during last week’s post election momentum, things died down early this week. Then they turned. Now, let me be perfectly honest: I didn’t see us correcting this quickly. In fact, I thought those “pause” days we got early this week were a good sign because the market didn’t immediately start erasing some of the big gains. You see, usually when you get a big pop and it’s unwarranted, the market will go to work cutting back on it  right away – we didn’t get that at all. Instead, we got pure sideways movement:   To me, this was a pretty good sign that the market was comfortable at these highs and our next break could be higher. Then the market dipped a bit lower yesterday after a neutral open… Then Powell spoke and it moved further… Then today opened with a significant gap down and continued lower… And all of a sudden, we’ve got a pullback on our hands. Now, like I said, this is definitely not what I was expecting in the back half of this week. My accounts can confirm that:   Ouch! But the bigger question is whether we’ll get a deeper correction from here. I don’t have a big, bold prediction but a couple things to keep in mind:   1. Yes, this looks like a real pullback now and there are some key levels we could test. We are already at about the 5,900 level on the S&P futures which I think is the first area of impact. From there, 5,825 is probably the next stop 2. We’re not even at the halfway point between Nov 5th low and Nov 11 high. So while this looks ugly, it could just be a ‘centering’ and then off to the races from here. Let’s stay zoomed out 3. Risk On assets like Bitcoin, Tesla and Nvidia have faired better the last 2 days than safer assets like the indexes and gold. That doesn’t feel like a meltdown to me. Actions I am taking: Right now, nothing in my “buy and hold” is changing and my flagship services (which are mostly bullish) are just sticking with the rules. I have taken some drawdown this week, for sure, and some people get antsy when a few losers hit. I get it! But I try to remind folks that I took some drawdown in Feb and March 2023… I took some drawdown in Aug - Sep 2023… I took some April 2024.. I took some in July and Sep 2024… All of those periods had some ugly weeks, Some days where losers felt like they were “stacking up” in the narrow view. But this is what Jan 2023 - current looks like:   So you can see why I am very glad that a few weeks or even months didn’t shake me out. That’s still my position now. I’m willing to change if the market dictates it, but that will take a good bit of confirmation from here. Hope this helps, Nate

After a flurry of excitement during last week’s post election momentum, things died down early this week.   Then they turned.   Now, let me be perfectly honest:   I didn’t see us correcting this quickly.   In fact, I thought those “pause” days we got early this week were a good sign because the market didn’t immediately start erasing some of the big gains.   You see, usually when you get a big pop and it’s unwarranted, the market will go to work cutting back on it  right away – we didn’t get that at all.   Instead, we got pure sideways movement:   To me, this was a pretty good sign that the market was comfortable at these highs and our next break could be higher.   Then the market dipped a bit lower yesterday after a neutral open…   Then Powell spoke and it moved further…   Then today opened with a significant gap down and continued lower… And all of a sudden, we’ve got a pullback on our hands.   Now, like I said, this is definitely not what I was expecting in the back half of this week.   My accounts can confirm that:   Ouch!   But the bigger question is whether we’ll get a deeper correction from here.   I don’t have a big, bold prediction but a couple things to keep in mind:   1. Yes, this looks like a real pullback now and there are some key levels we could test. We are already at about the 5,900 level on the S&P futures which I think is the first area of impact. From there, 5,825 is probably the next stop 2. We’re not even at the halfway point between Nov 5th low and Nov 11 high. So while this looks ugly, it could just be a ‘centering’ and then off to the races from here. Let’s stay zoomed out 3. Risk On assets like Bitcoin, Tesla and Nvidia have faired better the last 2 days than safer assets like the indexes and gold. That doesn’t feel like a meltdown to me. Actions I am taking:   Right now, nothing in my “buy and hold” is changing and my flagship services (which are mostly bullish) are just sticking with the rules.   I have taken some drawdown this week, for sure, and some people get antsy when a few losers hit. I get it! But I try to remind folks that I took some drawdown in Feb and March 2023… I took some drawdown in Aug - Sep 2023… I took some April 2024.. I took some in July and Sep 2024…   All of those periods had some ugly weeks, Some days where losers felt like they were “stacking up” in the narrow view.   But this is what Jan 2023 - current looks like:   So you can see why I am very glad that a few weeks or even months didn’t shake me out.   That’s still my position now.   I’m willing to change if the market dictates it, but that will take a good bit of confirmation from here.   Hope this helps, Nate

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ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Jeffry Turnmire Trading provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Jeffry Turnmire Trading are for your informational purposes only. Neither Jeffry Turnmire Trading nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Jeffry Turnmire Trading is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to phanxuanhoa60.trade1357@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub