Michael Santoli @michaelsantoli.bsky.social · Mar 3 The broad selloff has broken the market's "protection through rotation" routine, the S&P 500 cracks the bottom of the YTD range. Old trader voodoo says breaking the December low early the next year is a bad omen; we just did. Still only 4% off a record high, getting as oversold as at recent lows.
49 likes 2 replies
?
Replies
Anecdotally price action; gap down at open followed by rally through till the end of day is more likely in beginning bear markets.
T
As the old saying goes in times like these, you don’t sell what you want, you sell what you can. As atypical and unexpected as it is, the alpha trade in industrials and financials, and even consumer discretionary is where the short term pressure is and will be. #stayfrosty #tgt6400