Even if we do see a little recovery today, I suspect the tech stocks will need to see some more chop before breaking out again.
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For now, I’m treating this as a routine correction and planning ahead for a potential bounce so we can be ready to jump when we get the all clear.
In Sunrise Profits, Greg shares his thoughts on the market’s reaction to COVID-19.
Nothing has really materialized since the little panic we saw earlier this morning. That doesn’t mean stocks can’t fall later today, but so far this looks like it’s just a quick rotation out of tech. Remember, it’s summertime — more wild swings could be in our futures with August just around the corner!
I hope you took some time to recharge over the weekend, because it looks like we’re in for another action-packed week in the markets.
On days like this, we must remain disciplined and only take trades that meet our criteria.
It doesn’t look like we’re going to see much action as the day progresses.