The S&P 500 is down about 0.7 percent. The Nasdaq is down closer to 1. Oil is up. Some of the AI names are taking a breather. A handful of you have already emailed me asking if today is the start of something.
It is not. And honestly... days like this are good news.
A market that runs nine weeks in a row without a down day is not a healthy market. It is a market with too much leverage, too much enthusiasm, and not enough discipline.
The longer a run goes without a pause, the more violent the eventual pullback.
Today is the market exhaling. Speculators get squeezed. Stops get hit.
New buyers get a slightly better entry. Sentiment cools by a notch.
None of it changes the bigger picture I have been writing about all week.
What you want to watch is not the size of a one-day drop. You want to watch what comes next. If buyers show up tomorrow, the trend is intact. If they don't... we will talk about that then.
For today, breathe with it.
Talk soon,
Greg
You have got to watch this !
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