It has been a blood bath for the stock investors. Markets are crashing across the globe on fears of the corona virus outbreak.
The S&P 500 lost 10.7% in the past four days. While the corona virus outbreak was totally unpredictable, the crash it “caused” wasn’t. The S&P 500 tech published on Jan 21 (refer to article published on Jan 21) before the market crash proves it.
The market opened sharply lower on Monday and has been in free fall for the rest of the week. And while the media easily explains the drop with pandemic fears, Elliott Wave theory recognized a bearish setup much earlier.
In my opinion, if it wasn’t for the corona virus, something else was going to trigger the current selloff. It was no secret the market was significantly overvalued. With a bearish Elliott Wave pattern reinforcing the negative outlook, the bulls were walking on very thin ice above 3300.
And the ICE finally broke. Lets now make money from the BEARS
The S&P 500 lost 10.7% in the past four days. While the corona virus outbreak was totally unpredictable, the crash it “caused” wasn’t. The S&P 500 tech published on Jan 21 (refer to article published on Jan 21) before the market crash proves it.
The market opened sharply lower on Monday and has been in free fall for the rest of the week. And while the media easily explains the drop with pandemic fears, Elliott Wave theory recognized a bearish setup much earlier.
In my opinion, if it wasn’t for the corona virus, something else was going to trigger the current selloff. It was no secret the market was significantly overvalued. With a bearish Elliott Wave pattern reinforcing the negative outlook, the bulls were walking on very thin ice above 3300.
And the ICE finally broke. Lets now make money from the BEARS