SPX (S&P 500) Update, January 6
It’s pretty obvious that SPX is overbought and should correct any day now. That’s in addition to the negative news out after hours (Alcoa, (AA: 11.28 +1.90%), cutting capital expenditures and employement), which no doubt is just the beginning.
The question is how low will it go on this correction?
920, 887, 850 or lower?
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