Friday Morning Market Prepper
Daily Recap: S&P 500 Experiences Biggest Loss in Months
For the first time in months, the S&P 500 had a down day of more than 1%, and in doing so, broke through multiple support levels. Technology was one of the biggest losers today, with the Nasdaq down over 2%. The VIX is now trading at 16, which is the highest level on the year. When there is a ton of complacency in the market, all it takes is one negative headline to spook investors. This sell-off is healthy for the market and in fact will probably help facilitate gains later in the year. The S&P 500 had lost all its momentum in the last couple of weeks and this washout could help bring in some buyers.
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