Market correction

ranger4

Anyone else feel market correction has started with todays US selloff on negitive tues city and todays wells & US house starts data along with poor goldman trading profits, also does anyone else expect possible overall 10-14% drop with S&P with correction .

hmmm

A 12 point drop is a selloff?

Oh and no.

ranger4

hmmm wrote: »

A 12 point drop is a selloff?

Oh and no.

Will be interesting to see if S&P can reach 1295 again before market correction, I doubt it though.

WildBoots

Well a lot of markets are long overdue a shakedown, not sure if it'll be 10-14% though. Regardless of whether this materialises or not, financials are walkin on a tightrope...risk is extremely high at this stage in the game imo.

This guy generally knows what he's talking about:

http://www.thegoldandoilguy.com/articles/panic-selling-hit-sp500-today-silver-and-gold-are-next/

pirelli

Shanghai was down 3% on Monday when USA markets were closed. USA markets are always bullish after a holiday so today was playing catch up.

Yes! A correction but I am not sure it will be in such a uniform fashion across all sectors as we are used to seeing. The money won't be going anywhere it will be bottled and funnelled across different sectors. The bulls will just find different fields to graze.

The Jobs report today might be another excuse to bring about a correction but there will be bouyant groups of stocks in different sector's.

Maybe Bio techs will be one such segement that get's a lift or another sector that has been quiet for some time. Small caps might get a boost.

pirelli

pirelli wrote: »

Shanghai was down 3% on Monday when USA markets were closed. USA markets are always bullish after a holiday so today was playing catch up.

Yes! A correction but I am not sure it will be in such a uniform fashion across all sectors as we are used to seeing. The money won't be going anywhere it will be bottled and funnelled across different sectors. The bulls will just find different fields to graze.

The Jobs report today might be another excuse to bring about a correction but there will be bouyant groups of stocks in different sector's.

Maybe Bio techs will be one such segement that get's a lift or another sector that has been quiet for some time. Small caps might get a boost.

Jobs report Good . Euro rises as nerves ease. Vix already back in higer ground levels. Ftse down -1% Phildelphia survey at 10am. Shangahai is down another 2.5% and based on this then i think we will see a correction regardless of data. But good data means healthy swings back up mid day in certain stocks.


Highlights from TODAY
Initial jobless claims swung in the other direction for the January 15 week, dropping an unexpectedly sharp 37,000 to 404,000 from a revised 441,000 the prior week. The latest decline more than offset the prior week's 30,000 boost. With recent weekly volatility, the four-week average likely provides the best insight and fell 4,000 to 411,750 and is down more than 14,000 from a month ago.

Continuing claims for the January 8 week declined 26,000 to 3.861 million


Market Consensus Before Announcement**
Initial jobless claims for the January 8 week surged 35,000 to 445,000 for the worst result since October. The Labor Department indicated that the week's surge reflected administrative backlog built up during the shortened weeks of the holidays. They also note that many claimants postponed filing until the New Year, a move that increased their benefits. Based on these technical factors, there likely will be retracement this week but how much is the question




What factors other than technical are there for a market correction.

Earnings: Poor earnings from some banks...??

pirelli

Todays economic data from USA

Home sales data good
Phili Data good
Leading indicators also good.

Shauny2010

No correction, theres been no big rally, no bubbles in UK or European markets,
most Blue-stocks are still at great value,
Theres still some great value in the Irish stock-market

ranger4

Ftse had biggest 2 day selloff in 5 months, chinese economy showing signs of overheating, so far city-wells fargo missed earnings est, Recent market declines could be indicator that market correction very close.

Low Energy Eng

Metals taking a very sharp correction past two weeks

irishh_bob

Low Energy Eng wrote: »

Metals taking a very sharp correction past two weeks

no one predicted that yet it was entirely predictable , the eurozone crisis was the only thing keeping the likes of gold up , what with america showing possitive signs of growth and equity markets growing strongly