Nov. 23 at 10:08 AM
$SPY finally breaking the uptrend after a long time and we definitely saw a lot of red flags last week.
Overall breadth of the market looks bad as well with many growth names off more than 25% off their highs already. I am also cautious about all the gap ups that have yet to get filled.
Overall still lot of big caps are leading this move like
$AVGO $NVDA $GOOGL etc. IF we lose that 650 support level, then there is a chance we can enter a larger correction.
But for now we bouncedd off 650 on friday so that is the only good sign at the moment. Leaning bearish on the market short term here and think we can get a bigger correction