Bearish Market Pattern Today

June 30, 2022
Author: Peter Stolcers, Founder of OneOption

The S&P 500 is going to finish Q2 on a sour note. Last day of the quarter.

PRE-OPEN MARKET COMMENTS THURSDAY – By now we are all aware that the market is in a down trend and that the “trend is your friend”. Early in the year, the drops were bought with conviction and the bounces lasted weeks and the retracement was significant. The “buy the dip” strategy that has worked well over the last decade stopped working. As the market decline matures, buyers become passive. That means the bounces are relatively brief and shallow. The bounce off of the 52-week low only lasted a few days.

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