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Yesterday, was another nasty red day for the markets. The S&P 500 and Nasdaq gapped down and dumped and did try to rally in the afternoon, but that rally got sold hard before the closing bell. The Nasdaq ended the day down over 100 points as the bulls couldn’t stop the big cap tech stock selling.

The Russell 2000 small cap index, though, managed to close up and so did the NYSE composite, made up of every single stock and fund trading on the NYSE.

So, this is not a market in total panic.

The VIX has gone up, but it is not above 20.

This IS NOT a stock market crash.

It has all the earmarks of a shakeout, and such a thing was almost inevitable, with the valuations we saw stocks like NVDA reach and the craziness earlier this year in crypto.

Coinbase dumped over 5% yesterday and so did RIOT blockchain.

I still think the markets will start to rally for real gain in the time frame I was thinking about in my Sunday WSW Pro Update.

I will have more thoughts and ideas this Sunday for WSW Pro members.

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And…..WSW Pro Update

Gold, silver, and mining stocks fell too and took a hit on Thursday.

When a sector pulls back it’s always good take a look and see what goes up that day, because that’s typically where new leaders on the next market bull rally are going to come from.

Take a look at this mining stock, that went up yesterday when the sector went down.

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