More Than A 10% Correction?

spx_weekly

Volume was much lighter on the heels of Monday’s heavy selling.

We’re expecting volume to remain light for the rest of the week into the three-day weekend.

The uptrend has been dented.

Our bias was one of caution for buyers coming into this week.

We still think more of a correction is likely.

We’ll change our bias if heavy selling becomes more of a trend, which would suggest something more than a 10% correction is in the cards.

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