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S&P 500 looking overbought. Expecting 100+ point correction.

S&P 500 looking overbought. Expecting 100+ point correction.

It's your friendly neighborhood trader-man. S&P looks overextended.

I'm looking for a deep correction that is also healthy. I think the year will be a crazy one that finishes up, so I'm not long term bearish . Only when I see the signs.

Longs use tight stops, and keep a close eye on the overnight action.

The biggest thing for me is just how low the volume has been this recent week. Moves up on lower volume don't last!

Will it correct tomorrow?.. I would never tell the market what to do. If it finishes the week high, I would only grow more bearish .

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