Since the 90's we have seen many times where the broader market (SPX) has seen a pretty significant pull back, more than 10% and then a rally. Almost every time the market rose more than 20% in 60 days or less has been a good place to take profits. Clearly everything is super bullish right now, and I am not saying this will be the top, I am simply saying, we could experience a correction driven by profit taking. In an uptrend, you want to be a buyer on pull backs, so a pull back could give us another longer term opportunity
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.