Yesterday’s sell-off gave stocks a confirmed breakdown from the rising wedge they’ve formed since early July. At the very least, we should see a correction down to the lower line of the trend channel running back to April.
However, if we are to go by economically sensitive commodities such as Copper, stocks could drop a LOT more than this. The charts are clear here… the global growth story is over. The issue is now whether US stocks play “catch up” or not.
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