Yup think it has still slight room for the downside. But think might just signal that it has reached the bottom. June inflation rate has reached 9.1%, 0.5% above expectations but the market's reactions is not knee jurking this time around. Especially for the tech growth counters..
Hedging is the main concern of investors $S&P 500(.SPX)$ index down to 3991 on May 9 close, the first time fell below 4000 points since the April last year, while Nasdaq Composite Index $NASDAQ(.IXIC)$ has retreated by 25.7% since the year, falling to the level of two years ago. What is the difference between this round of pullback and anytime in recent 10 years? I'm afraid the continuous weekly decline, has already amade it difficult for investors to balance their positions. Quantitative institutional's flee on some stocks and increasing their hedging makes the market more volatile. Ind