OK, so this is just a thought … got me scratching my head in confusion.
There are numerous fears around at present for the US equity markets. Reasonably well-founded fears, not the bleatings of the zombie-bear sheep (yes, I know, mixed metaphors, apologies).
Plenty more in the background, but these are the topical ones.
And the S&P500 is off, what, about 50 points? (It has been a bit lower).
So, the question I have is …. is that all ya got? Some pretty hefty concerns around, and the S&P is down 50-odd points? Where’s the “overdue” selloff (I hate the term ‘correction’)? Just got me wondering, shouldn’t we be seeing more selling?
Here is the last 6 weeks (ES), all squashed up to fit it in. 2×1 PF. ps. Don’t forget there’s a rollover in there.