Markets had a 12% correction and that appears to be it. For now. The Dow is in the process of violating a perfect setup where it could’ve jumped off the ledge. Here’s a lesson I learned about 14 years ago. Unlike many who got their training in the old Internet bubble go-go days, I cut my teeth in the bear that followed.
But will the sentiment remained that bullish after cash market opening at 9:30 a.m.? For now, it looks like the market may extend its short-term uptrend and continue its run above 2,700 mark. It may retrace the whole Wednesday-Friday's sell-off.
The markets plunged Monday, with the Dow falling nearly 1,600 points in the largest intraday point decline ever. This "February 2018 market crash" caused us to look back at some of the more recent historical market moves.
The main U.S. stock market indexes lost 2.0-2.5% on Friday, breaking below their three-day-long consolidation as investors reacted to quarterly corporate earnings, economic data releases, among others.
The main U.S. stock market indexes gained 0.1-0.3% on Wednesday, as they fluctuated following recent move down. Investors were uncertain ahead of quarterly earnings, FOMC Rate Decision, economic data releases.
February is the shortest month of the year and there is no specific market insight to it such as the Santa Claus rally or January effect. It is one of the poorer performing months in all three major indexes: number eight in the Dow Jones and Nasdaq Composite and number nine in the S&P 500, but averages moderately positive returns in the Dow and S&P with a more robust 0.73% in the Nasdaq.