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This was a brutal week for all exchanges! This is just the beginning of what I predicted a few weeks ago. THE MARKET CORRECTION HAS BEGUN.

The big-cap tech took a beating yesterday, closing down 512 points, or 2,77%. Volume increased approximately 25% to the downside; that’s not a good sign.

Yesterday the S&P 500 was up .28% to 5631 the NASDAQ was up.40% to 18,472 and the small cap 2000 ROARED AHEAD up 1.80% more than triple any of the other averages mentioned.

Second quarter earning season is upon us and this is what I expect.  I believe you there will be quite a bit of buy on the rumor sell before or on the news. 

n Friday both the NASDAQ and S&P 500 recouped some of their losses from the day before. 

If the Federal Reserve does not lower interest rates by September, I anticipate problems in the economy, which means troubles in the market. 

Honestly, I didn’t expect what I wrote yesterday to come to fruition so quickly.

The S&P 500 closed today at a new record high of 5,576.98, while the NASDAQ also notched a new high of 18429.29.