Lo & behold, the S&P500 Index corrects!
Updated: Oct 1, 2021
On Monday 27 Sep 2021 5.38pm, I emailed Clients my latest post titled 'Lo & behold, the S&P500 Index corrects!'
Pls find below some excerpts from my latest writeup. More importantly, I shared with my Clients where potentially this Correction could end at..:
'..a quick recap on what I said in my 30 Aug writeup - "I remain biased towards the bearish case and in conjunction with the Negative Seasonality which lasts til October, I'm of the view that we are more likely to see a garden-variety pullback or correction in SPX (S&P500 Index) within the next 1-2 months"
Lo & behold, the SPX kicks off the selldown in the month of September with a 5.32% pullback from 2 Sep high to the 20 Sep low..' '..as usual, clients who have been following me know how I use the Bollinger Bands (BB) to decipher if the SPX trend has changed..'
'..now, with the SPX giving us so little in terms of pullbacks in the past one year or so, will this correction just end at 5.32% on 20 Sep or is there something more sinister just hiding round the corner?..if you ask me for my bias, I would really prefer to see one more low as an..'.
'..The current pullback is something I have red-flagged 2 months back and once completed is likely to usher in..' To get the low-down on the full writeup, pls subscribe to my PATREON channel here: patreon.com/thom_ng Still undecided with PATREON? To aid you in your decision, pls feel free to check out my track record here! Thank you & as usual, Live Long & Trade Well! Thomas Ng, CMT Principal Trading Representative 首席股票经纪 www.thom-ng.com