In the Current Market: Will You Stop Loss, Wait for the Dips or Go Short?
Nasdaq-100 Enters Bear Market
It was a brutal day for the tech market. The $NASDAQ(.IXIC)$ lost a whopping 2.04%. The $S&P 500(.SPX)$ dipped 0.74%. The Nasdaq-100 is officially in bear-mode. Nasdaq-100 is now in a bear market for the first time since March 2020. A bear market is formally defined as a “condition in which securities prices fall-20% or more from recent highs.”
The S&P 500 and Dow Jones are a little better off than the other two, but they’re not necessarily safe from bear conditions — the S&P is down -13% from January highs and the DJIA is down -10%.
S&P 500 Falls into a Death Cross
The S&P 500 Index entered a “death cross” technical pattern on Monday for the first time since March 2020, becoming the last major U.S. stock-market index to fall into the bearish formation this year.
A death cross appears when the 50-day moving average crosses below the 200-day moving average, an event that many chart watchers view as marking the spot a shorter-term correction morphs into a longer-term downtrend.It occurred in November 1999 during the peak of the dot-com era, in October 2000 after that bubble burst and again in December 2007 ahead of the global financial crisis.
Chinese Stocks Suffer in Biggest Plunge Since 2008
Under the multiple blows, how is your portfolio?
Some netizens comments:
Viewing my account today
Why only Russian stock market closed?
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