The
#stockmarket had a heavy sell off yesterday with the
#sp500 down 1.7% and theb
#Nasdaq was down 2%.
Much of this is due to the concerns from the war and Iran and all the noises coming from there that the Iranians are not interested in the peace deal on the table. As a
#oil ( $WTI ) was up over 7%, inflation concerns raised, the
#US10Y is spiking and the
#VIX is up to over 30.
Investors do not want to be holding risky positions going into the weekend and the late day sell off reflected this.
Whilst I still think there is a LOT more downside on the indices, they are now getting oversold and likely have a bounce soon.
I remain short on the SP500, Nasdaq and the Russell but I am expecting a bounce and will look to take day trades reflecting this in the next week or so.
$ES $NQ $SPY $SPX $QQQ