In September 2020 we had an ABC correction :
In the last week of September 2020, the S&P 500 bounced back and then experienced another decline:
There is one big difference between Sep 2020 and Sep 2021:
SPY: has the highest price in the market and provides exposure to S&P 500 .
In 2020 SPY trading was decreasing at lower readings while in 2021 it is exactly the opposite!
Looking at the SPY trading clearly shows Sellers have the higher hands:
Lower volumes in green days in comparison to Red days:
This correction has not finished yet, but it doesn’t mean you can not find opportunities. ( Oil Stocks should be considered)
Waiting for better entries could be the best thing for a while!
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