Finding Opportunity in Market Correction (8/21/23)

(8/21/23) More market correction is possible, but not likely without a reflexive rally first. Following market peaks in July, we forecast an overdue correction. Last week saw the completion of a 5% correction, and now retesting support at the 100-DMA. This is not only normal, but expected behavior in any given year. Could the market correct further? Sure, but likely not without some bit of a reflexive rally (which may be little more than an over-sold bounce). Bullish sentiment in July has now tapered to a more neutral mood. The fuel for a bit of a rally over the next few days is now in place, and this would provide an opportunity to trim portfolios and reduce risk. Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton -------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our new "Before the Bell" YouTube channel: https://www.youtube.com/watch?v=WFyFGs-MIxY&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #MarketCorrection #MovingAverages #20DMA #50DMA #200DMA #MarketRally #Money #Investing