The previous major correction saw a drop from 112,000 to 98,000, just before hitting the 120-day moving average at 98,120 and rebounding.
This time, the market fell from 124,500 to its current low of 108,680, only to hit the 120-day moving average again at 109,200 and rebound!
If it can successfully hold and rebound, this will be the bottom. Otherwise, another deep drop is imminent. It's worth taking a gamble right now. Set a stop-loss below the rebound!
