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THE NEXT BIG MARKET CORRECTION
Our researchers have been working overtime trying to help you stay ahead of these market moves. You may recall that we called this current downward price rotation in the US stock market over 25 days ago? You may recall that we called the downside price move in Gold over 40 days ago? Now, we’re going to help you understand how to find profits from these movements and how to look for opportunities throughout this rotation.
Our expectations for this move are that the NQ will see the biggest price rotation compared to the ES and YM. We expect the ES and YM to rotate downward by about -4~8% while we expect the NQ to rotate downward by -6~12%. The reason for this is that we believe investors are already in the midst of a capital shift moving capital away from technology and into Blue Chips and Mid-Caps. We believe this transition away from technology will continue and we believe this price weakness may result in the NQ/Technology establishing much lower price levels than many expect.
Currently, our expectations are for support near $6860 to hold with a potential for prices to reach a lower support level near $6740. We do expect this downside move to last at least 2~3 weeks before setting up a “momentum base” and starting to move higher again.
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