Short

Major "correction" to be awaited soon

Updated

Major correction to be expected in the weeks to come ,starting most likely from
next week ( May 6th) .

This correction will occur on stocks , indices and most asset classes and will reach as deep as 26% on average and possibly even deeper .

For I expect it to reach at least the 14000 mark , and possibly even as deep as 10500 -10000 .

This analysis will probably only make sense in retrospect .

May you please note :

I am definetly bearish on the long term for 2024 but I will watch the markets closely in the days and weeks to come to seek further confirmations and will keep you all updated .
I will also keep an eye on short term fluctuations and will share with you many high quality opportunities on the shorter term (such as the idea shared last week before FOMC and NFP ) .

Kind Regards

Note

To update you all on this idea : I am still bearish on Nasdaq and Indices, although there were no confirmations untill now which the reason I advised to have caution, and not go all in at once but plan layered entries at different levels, and also to wait for a short term sentiment change. That is because the market might give us entries at higher and better prices ( There are the comments from me on this post on May 6th) .

As of now : It is really probable that tomorrow May 16th, we may get the short term bearish sentiment change that confirms our initial bearish bias, but it is very likely that the next week we will have the last bearish confirmation for placing the entirety of our sell entries for this idea. Please respect risk management and do not risk more than 0.25% for large accounts, 1% for medium accounts and no more than 3% for smaller accounts (<100k $)

You will see me update this post when we obtain solid confirmation on this sell idea. Please do not enter untill we obtain the solid confirmation we're seeking.

I will also post any shorter term trade ideas that are highly probable, as we will have a cleaner price action and we will see more opportunities starting from next week.

Kind Regards

StockAnalystPro

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