Today on Wall Street the feeling was very pessimistic at the entrance to the session with devaluations above 1%, which includes an attempted morning recovery that failed, an important fact to consider. As for now the trend is clearly negative and losses amounted to more than 3% with main indexes in official correction territory, that is, with a slide greater than 10% from the historical highs. Highs that were reached just six days ago, in other words, the tradition of falls is generally much faster than ascents. It should be noted that the S&P500 is in a very important area, around 3,000 to 3,020 points, site of the highs of August and September of last year, which will now be able to function as an area of some extra support.
In the sectors, energy sources are clearly the ones that lose the most value with a fall of almost 5%, in line with the 4.5% record in the price of WTI crude. While technological, material and industrial ones follow behind with slips of 3% and with corrections above 10% since the highs of a few days ago. I reinforce the idea that this zone is special important in order to gauge whether capital is available to enter these levels as it has happened in recent years, and in the short term there seems to be some interest given that the S&P500 found support at the 3,000 line.
Photo by MBM.
As I have mentioned above, the situation is volatile and could be short-lived sunshine, some cautions are needed, particularly with volatility.
