It’s not even the biggest pullback we’ve had in the last 4 months.
All told, the S&P is only down 1.7% from yesterday’s high of 5149.67.
So why are we making a bigger deal of this than the situation might warrant?
Well, for over a month, Jeffry Turnmire has been warning of the possibility of a top at the 5150 level.
And while yesterday’s price action technically retraced at 5149.67, we’d say he called that target nearly perfectly. (just 33¢ shy of his target)
The question remains: What next?
Well, no one has a crystal ball.
But as Jeffry’s warned us: be careful. Take your profits. Set your stops.
And if markets start pulling back in earnest, remember you heard it here first.
— The Prosperity Pub Team | |
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