Could we be on the edge of a market capitulation?
The S and P 500 continues to trend down with support for today in the 659 area. 659 is about 3.7 percent lower than the current S and P price as I am writing this.
A market capitulation occurs when investors surrender all hope of recouping their losses in the market--and sell in a panic.
It appears to me that we could be reaching the capitulation point. The market bears close watching today. A close around or below the 659 area would not bode well for the opening on Monday morning. On the other hand, a market capitulation is one of the few times where you can make real money in the market quickly.
The S and P 500 continues to trend down with support for today in the 659 area. 659 is about 3.7 percent lower than the current S and P price as I am writing this.
A market capitulation occurs when investors surrender all hope of recouping their losses in the market--and sell in a panic.
It appears to me that we could be reaching the capitulation point. The market bears close watching today. A close around or below the 659 area would not bode well for the opening on Monday morning. On the other hand, a market capitulation is one of the few times where you can make real money in the market quickly.
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