5%-10% Correction in the Cards?

Sam Stovall thinks investors are “hiding out” and waiting for the “conditional correction to unwind.” He notes that the market hasn’t made any down moves over 2%, despite a dozen 1%+ moves roiling the market. He’s watching the 200-day SMA as the catalyst for a down move but says that the market tends to recover quickly even from a 5-10% pullback.

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