SPX500 Could face 6% Correction to 5300

Hello,

#SPX500 Rose 15% Since April 18th 2024 without strong correction. This rise is fueled by the Top 7 Giants, these companies became extremely over valued and we could see large investors start to take profit now.

#NVDA P/B is 63 This means for every one dollar, Investors are paying 63, this is extremely high.
and the stock for sure over-valued, would this explain why today there was high volume of 31M shares, and Net sales of 7.5M shares ? would this continue?


#Apple P/B at 47 which is extremely over-valued as well.


So we could see #NVDA and #APPLE fall quite a bit harder.

Overall, 40% of SPX companies only above 20 day MA which indicates most stocks are falling, but the index is rising due to the fact the TOP 7 are holding at extreme prices.

This point is called Maximum Financial Risk and could see a strong fall.

#SPX500

#NASDAQ


#VIX index is rising and could rise to 20


Best luck and trade safe