Bears Roar After One Day of Selling

January 3, 2024
Author: Peter Stolcers, Founder of OneOption

Ignore the headlines. One day of profit taking is not a trend.

PRE-OPEN MARKET COMMENTS WEDNESDAY – The market was not able to challenge the all-time high last week and that is a small sign of resistance. Year-end window dressing ran its course and we no longer have that support. We saw some profit taking yesterday and the S&P 500 is down 20 points before the open. We will test the low from yesterday this morning.

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