Lights Flashing Red

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ValueWalk

S&P 500 gave in to weakness, shifting the balance of power to the bears – this close at the 50-day moving average doesn‘t look to be as appealing as the prior ones, buy the dip isn‘t likely to work this time around. Yes, I‘m saying that after the prior week‘s long hesitation / consolidation above this key support looked as if it would work, but I became not conviced on Wednesday‘s strength lacking believable follow through on Thursday. And Friday‘s quad witching dispelled the remaining question marks – the long overdue 5%+ correction is on the doorstep. The earlier today opened short S&P 500 p…

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