You nailed the ferocity of this decline, kudos.
I thought they would manage to push this kind of an episode out a few more years. The virus was a catalyst, but it was way stretched. I expected a decline, not nearly this fierce, in late Dec to late Jan. I'd just about given up, thinking maybe April. I can hardly believe I sold my freakin' SOXS just a couple days before the market cratered. Ye of little faith, I guess.
Now the question is, if there is a bounce next week, will it be transitory and then down we go to the 200 week moving average, a true 4-year low kind of correction (like it did Dec of '18), or churn around and head up.
Most of the time, there is a retest. 1987 was the oddity, almost retesting that week I think but then heading up.
I'd prefer to head up so I don't have to think so much, but it will do whatever it's gonna do. |
