Market in Triple Bottom?

It's been sometime since I last write. I have been busy with other things including sharpening the content and delivery of my handholding sessions.

I''ve been mentioning before and repeat it again in my handholding sessions that the current U.S. market correction is not the normal correction. Things are just too bad at the moment to be bullish about the market. So it is no surprise that the DOW drops 20% from its peak. I do expect a little more - maybe another 10% down.

But now, it is a good time to take stock after the July 4th Independence Day holiday.

The three major indices (DOW, S&P500 and Nasdaq Composite Index) are all in oversold territory. The oscillators (e.g. RSI, stochastics) for each of the 3 indices are at the low end. While I believe that the market is in for another thrashing, it needs to rest and retrace (in this case, go up) a bit before continuing its downtrend. Unless a series of bad news or an extremely bad news is announced, any little good news might push the market upwards in the short-term.

PersianCat (Millionaire-in-progress)


As such, what we could be seeing is a possible triple bottom being formed.