RE:Just watch what happens to the price
88guy88 wrote: into the 1st quarter after various company results come out and disappoint and inflation keeps going up and rates continure to to up .50% or.25%......and yes recession will be coming down the road
investors have not seen bottom pricing on a lot of tech stocks yet....its gonna get far far worse before it has a hint of sunshine
higher highs and higher lows are good signals....BUT....it needs volume....don't see volume
Throwing another stat out there. A bear market has historically had drawdowns of about 35% which given the peak of about 4,800 for the S&P 500 could give us a low of about 3,120 or in the 3000-3200 range before it's all said and done. During the dotcom crash and the GFC, the drawdowns were far more severe and so 35% is easily doable.
After covid arrived, the S&P 500 dropped to as low as 2,191 on March 23, 2020 which was approximately a 35% drawdown from the pre-covid highs achieved on Feb 19,2020 of 3,393. Anything is possible but I think it could happen again.