Traders Reducing Stock Market Risk
Posted on Wednesday, May 18, 2022 at 4:12 PM
Dan Passarelli, CEO - Market Taker Mentoring
There was a big stock sell off in the S&P500 today. And the reason is all the traders reducing stock market risk and refusing to buy the dip. Volume was average, indicating a lack of conviction on the part of traders.
To me, that means this sell-off could be slightly exaggerated. There could be more room to the downside, but over the next couple of weeks, the more likely scenario is that the stock rallies somewhat.
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