Yesterday's market action was positive.
The Nasdaq edged down 0.02% on below average volume (Point A). This behaviour indicates that the market may be trying to stabilise at these levels.
Leading stocks action was positive.
The Nasdaq has a thick wall of support that starts at these levels and goes all the way down to 2726 (Point B). I don't think it will have to drop as low as 2726 before it finds a floor because it's been recently acting as if it's close to a bottom.
So far the action from the market and leading stocks is telling me that this another normal and natural bull market correction.
Yes, it may go lower from here but so far it's not showing any danger signs of something more serious. As always, it's best just to see this retracement as a temporary inconvenience. The key is to have faith and remain patient.
Please note past performance should not be used as a guide to future performance, which is not guaranteed. Investing in Funds should be considered a long-term investment. The value of the investment can go down as well as up and there is no guarantee that you will get back the amount you originally invested.
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