Opinion: Stocks market volatility should be here soon
There is an old phrase "What goes up must come down" meaning things that go up must eventually return to the earth due to gravity. The U.S.. Stock market has defying this phrase since President Trump took over office back in November 2016, with major indices: #SPY #IWM #QQQ #IBB pushing for record highs all year long.
On the contrary, with today's market price action there is something unusual that the bulls should take into consideration. The bear ETF/ETN are pushing strong closed toward end of the day, these ETF/ETN are for the pros and experience traders, be careful if you plan to trade them because you can loss more than you want. The #VIX measured volatility remained strong throughout the day, too.
In my honest humble opinion, it's good to have a breather as market is overbought with #SPY RSI at 71.16, #DJIA RSI at 82.76, #SOX RSI at 77.68 and #XLF RSI at 70.69. Even if there is a 10% pullback in future, the U.S.. stock market still at bull phase, but it's better to have trade plan and be prepare to what to come ahead. Here are some charts: