Last week was one of the worst weeks in the history of the stock market, and was the worst week in the history of the Dow Jones Industrial Average.
The DOW lost some 2,400 points in one week!
So, we begin a new trading week tomorrow.
Well, according to DOW futures, it looks like we’re going to have a rebound of epic proportions.
Yes, I’m always skeptical, but I’ve been wrong before and especially when I thought Amazon (AMZN) and Apple (AAPL) were going to post stellar earnings.
Oh wait… they DID post stellar earnings, especially Amazon!
And yet we had this big correction move just after the Super Blue Moon Lunar Eclipse occurred!
Yes, what a coincidence, right?
The charts below show just how devastating the past two weeks have been since two events had occurred:
1. Trump’s State of the Union Address.
2. The Super Blue Moon Lunar Eclipse.
Just A Coincidence?
Anyway, the charts spell it out now, and there was a major fall of the entire stock market, including these to companies that posted great earnings reports for Q4.
And Apple is set to such a high standard by stock analysts, that even though earnings were record breaking, Apple didn’t sell enough of the iPhone X’s, quantity-wise. And for that, the stock took a downturn, and with the current correction in progress, made things worse.
Amazon had record breaking earnings, period! Yet, the stock still suffered with a big drop in price.
These are great companies and with two of the biggest market caps in history. So, at some point, investors will want to buy in at a point when the stock market starts rebounding.
Of course, no one knows for sure when the markets will rebound, but it will happen.
Note: The stock market is subject to volatility. Trade at your own risk!
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