Good morning and Happy Friday!
On Thursday the SPX, DOW and NASDAQ closed at the lows of the day and and continued down during the overnight session. In the Twitter world, the bears got our of their caves and many were predicting Armageddon like they usually do when a correction happens. The selling yesterday and during the overnight session, seemed to have been the the flush that was needed to stop the selling. This morning ten year treasury rates are below 1.5% and dropping. At the same time, futures are headed higher above the lows of the close yesterday. It may be very possible that this correction may be over but we shall see. Under the surface, there has been a lot of damage done and this is the time to go shopping for your favorite stocks. Even if the selling is not over, it is still a good time to buy.
Enjoy your weekend!
Founder | SimpleOptionStrategies.com
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