Markets have been in what I call the "orderly whackage phase" over the past few weeks.
Off of the top, there’s been some damage done:
• The Dow is down nearly 2,000 points or ~13% from the October highs.
• The S&P500, from its recent high of 1565, has given up almost 15%.
• The Nasdaq has shed 470 points from 2859, or nearly 17% lower.
• The Russell 2000 is down ~20%.
And thats before the disorderly whackage phase begins.
Question for the assembled multitudes: Are we closer to the
beginning end of this correction, with an oversold bounce due (anyday now) or– is this the start of something even uglier, with the market heading relentlessly down without interuption?
What say ye?