A Stock Market Bottom Could Be Very Near

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New article by Rida Morwa from High Dividend Opportunities: Technical charts show that the equity markets may already be near a bottom. A recovery could start as soon as this week. What if the market overshoots to the downside and we see a further pullback? The markets will recover, and good stocks always bounce back. For income investors, the markets are offering enticing yields. Start building a high-dividend portfolio today before it is too late.


By: Rida Morwa, High Dividend Opportunities

The S&P 500 Index is officially in a “bear market”. The index closed on Monday down 2.7%, reaching the 2,351 level, its lowest level since April 2017. The index is down more than 20% from its September intraday high of 2941 points. The widely accepted definition of a “bear market” is a drop of at least 20% from a recent peak.

But not all hope is lost. What is very interesting in this case is that the S&P 500 index is at a major support trendline that goes back to the year 2010. This is a level that bulls will defend with all their might, and could be very positive for the stock markets as we head into the New Year. Please have a look at the chart below depicting the chart of the S&P 500 index ETF (SPY):

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A Market Bottom Could Be Very Near



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