Opinion: The bears control the market now but it will be hard for them to hold it

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OPINION: Stocks sank Wednesday, but 'this S&P 500 pullback is unlikely to be very deep,' writes HumbleStudent.

The stock market’s bears finally have broken through and several factors have combined to spark this setback in stock prices.

Bad news from overseas on the pandemic front may have also contributed to the risk-off tone. Taiwan announced limits on crowds, following Singapore’s move to restrict foreign workers, in a wave of new restrictions in Asian countries trying to stamp out small outbreaks after months of keeping COVID-19 contained.

Our Backtest Engine shows that this is the sixth-largest number of climaxes in a single day since the inception of the SPDR S&P 500 ETF Trust SPY, -2.12%. Every time more than 95 stocks suffered a buying climax, the S&P 500 SPX, -2.14% showed a loss over the next one-to-two months. There were few losses over the next six-12 months, and they were relatively small.

Some of my bottoming indicators are already starting to come into place. The five-day RSI is flashing an oversold reading, which is the first sign of a bottoming process. The CBOE Volatility Index VIX, +26.33% has spiked above its upper Bollinger Band, which is also a short-term oversold indicator for the stock market.

 

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HumbleStudent WallStreet 'advisers' and mass media: CNBC, Bloomberg have to be very proud for luring clueless retail 'investors' into the biggest StockMarket BUBBLE in history! This is what they are paid for by big corporations - turning retail investors into bagholders!

HumbleStudent This StockMarket Bubble would be called FAANG Bubble! Per WarrenBuffett INTRINSIC VALUE formula, based on 2019-2020 annual reports, $FB $AAPL $GOOGL $NFLX are significantly overvalued, but $AMZN is worst of them all - overvalued by 1,176% compare to IntrinsicValue!!!

HumbleStudent Learn to trade the volatility from transparent traders here

HumbleStudent Short term SP500 and especially QQQ will have very challenging times. Expect 20-25% pull back in June/July

HumbleStudent doge

HumbleStudent horrible

HumbleStudent If you believee in the future then you will know indeed that crypto investment is the future,investing in it now is very much profitable ✅✅ inbox me now to get started.

HumbleStudent A terrible Option. Biden is President, that means the pullback is going to be rock bottom. Might even collapse. Look out!!

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