Today's Market Volume + Selling velocity = Defensive Signal for me

I never send two emails in one day - I’m not here to give financial advice and I try to be as objective as possible on market overviews. Today I’m sending two emails because I want to quickly state my opinion.

Today’s velocity and shear volume of selling midday suggests this is institutional money taking risk off and cutting positions. It was a liquidity event midday starting around 3pm EST.

I have seen this price action many times before signifying a market correction “top”. If we don’t see a strong close into this week, today likely was this years “top” as we head into some sort of a correction phase. How deep and how long that correction goes - who knows.

The warning signs are clear and defense mode for me started today (12/18/24) into close.

P.S.

I’m definitely not trying to be all doom and gloom here; the markets have had an incredible year! I wanted to share my thoughts. I'm responding to today's price action with caution.

Happy Holidays

- John