S&P500 -27 to 4742, a weak start to the new year as expected. Delayed profit taking in the winners undoubtedly a factor. The big question is how big will this pullback be ? Just a trivial 2 or 3% dip ? Or a 5 to 10% minor correction ? Or a 10 to 15% major correction ? Or something even bigger ?
My hunch is a 5 to 10% correction over the next 1 to 2 months, but I could be way off.
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