I am not an alarmist and don’t use the word “crash” in my writings now or at any of the buy side firms I worked at in my career.
So I’ll avoid using that word now… but, investors should be very cautious in the days/weeks ahead.
Why? Well, there are a few reasons.
The inability of the market to stage a rally from an oversold condition
Very negative sentiment
And the breadth thrusts off the recent low are not holding.
This sends a message that something is brewing. If the selling really takes hold, we may see the S&P 500 reach our MFU 3 price target.
S&P 500 Index Chart
Twitter: @GuyCerundolo
The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
