{"id":46056,"date":"2018-04-02T14:26:51","date_gmt":"2018-04-02T18:26:51","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=46056"},"modified":"2018-04-02T14:26:51","modified_gmt":"2018-04-02T18:26:51","slug":"sp-500-dow-correction-territory","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/","title":{"rendered":"S&P 500 and DOW In Correction Territory"},"content":{"rendered":"

Hello traders everywhere. Thursday's positive gains failed to follow through on Monday after the Easter weekend with a widespread sell-off taking hold and pushing all three indexes into correction territory. <\/p>\n

Tech troubles and tariffs have pushed the S&P 500<\/a><\/strong> through the 200-day moving average which viewed as a critical level of support. Technical traders and chartist alike believe that this breach can foreshadow even more significant declines down the road. <\/p>\n

Now let's talk about the word correction. A correction is defined as \"a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation\". <\/p>\n

\"Correction<\/a> <\/p>\n

With that in mind, all three major indexes have dipped and flirted with correction territory today. At their lows of the day the S&P 500 was down 10.5%, The DOW was down 11.6%, and the NASDAQ was down 10.2% putting all three indexes in correction territory. Only the NASDAQ has been able to rebound, but it's still incredibly close to closing the day in a correction.<\/p>\n

A key level to watch for the NASDAQ is 6,630.67, at that level our Trade Triangle technology will trigger a new red monthly Trade Triangle indicating that short position may be in order for the NASDAQ. <\/p>\n

A critical level to watch for the DOW is 23,360.26, at that level our Trade Triangle technology will trigger a new red monthly Trade Triangle indicating that short position may be in order for the NASDAQ.<\/p>\n

If that happens, all three indexes will have red monthly Trade Triangles. That can be used as an indication that we are headed for a more profound correction. <\/p>\n

Key Levels To Watch This Week:<\/h2>\n

S&P 500 (CME:SP500)<\/a><\/strong>: 2,801.90
\nDow (INDEX:DJI)<\/a><\/strong>: 23,360.29
\nNASDAQ (NASDAQ:COMP)<\/a><\/strong>: 6,630.67
\nGold (NYMEX:GC.M18.E)<\/a><\/strong>: 1,347.30
\nCrude Oil (NYMEX:CL.K18.E)<\/a><\/strong>: 62.95
\nU.S. Dollar (NYBOT:DX.M18.E)<\/a><\/strong>: 89.98
\nBitcoin (CME:BRTI)<\/a><\/strong>: 6,194.46<\/p>\n

Every Success,
\nJeremy Lutz
\nINO.com <\/a>and MarketClub.com <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hello traders everywhere. Thursday's positive gains failed to follow through on Monday after the Easter weekend with a widespread sell-off taking hold and pushing all three indexes into correction territory. Tech troubles and tariffs have pushed the S&P 500 through the 200-day moving average which viewed as a critical level of support. Technical traders and […]<\/p>\n","protected":false},"author":41,"featured_media":46058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[9163,9302,6249,6160,9318,6320,6319,9303],"class_list":["post-46056","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-videos","tag-bitcoin-cmebrti","tag-crude-oil-nymexcl-k18-e","tag-dow-indexdji","tag-facebook-inc-nasdaqfb","tag-gold-nymexgc-m18-e","tag-nasdaq-nasdaqcomp","tag-sp-500-cmesp500","tag-u-s-dollar-nybotdx-m18-e"],"yoast_head":"\nS&P 500 and DOW In Correction Territory - INO.com Trader's Blog<\/title>\n<meta name=\"description\" content=\"Thursday's gains failed to follow through Monday with a widespread sell-off taking hold and pushing all three indexes into correction territory.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P 500 and DOW In Correction Territory - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"Thursday's gains failed to follow through Monday with a widespread sell-off taking hold and pushing all three indexes into correction territory.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader's Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-02T18:26:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/04\/2018-04-02_14-24-12.png\" \/>\n\t<meta property=\"og:image:width\" content=\"861\" \/>\n\t<meta property=\"og:image:height\" content=\"482\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"The INO.com Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The INO.com Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"S&P 500 and DOW In Correction Territory\",\"datePublished\":\"2018-04-02T18:26:51+00:00\",\"dateModified\":\"2018-04-02T18:26:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/\"},\"wordCount\":316,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2018\/04\/sp-500-dow-correction-territory\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2018\/04\/2018-04-02_14-24-12.png\",\"keywords\":[\"Bitcoin (CME:BRTI)\",\"Crude Oil (NYMEX:CL.K18.E)\",\"DOW (INDEX:DJI)\",\"Facebook Inc. 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