I know everybody is bearish. But we might see a technical bounce soon.
Things are just too oversold
The market appears as if it wants to flip into a bear market over the past couple of months. But remember that the stock market does not go straight down all of the time.
Nobody knows for sure where the market is going. But right now, things look a bit too oversold, in my opinion. A bounce in iminent.
I would expect a small technical rebound to cool off the current meltdown. I am assuming that it should happen this week. Possibly next week.
Naturally, we might see a brief consolidation period before any rebound takes place.
I am assuming that if and when we see a rebound, then it will be short-lived. So don't put all of your eggs in one basket on this one, if you know what I mean.
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bwjx : qqq may rebound faster and stronger than the other indices as it is still above 200 MA. possible catalyst maybe stock buybacks or fed induced rally coming soon.
SpyderCallOP bwjx: I dont know the exact timeframe, but the blackout period for companies to buy back their stock ends a few days after a company releases earnings.
SpyderCallOP bwjx: and with the bulk of earnings just around the corner, we could see some buying very soon
Always Hungryy : I hope things improve.
SpyderCallOP Always Hungryy: Me too