S&P 500 - Daily
S&P 500 - Weekly
DJI - Daily
DJI - Weekly
Nikkei 225 - Weekly
Nifty 50 - Weekly
Time for a stock index correction
Most of the global stock indices has rallied nicely since early 2016. A rally that only has seen minor corrections especially lately and especially for the US stock indices.
But it looks as a peak is near and renewed downside pressure should be seen shortly. The S&P 500 and the DJI is only expected to experience minor corrections, whereas the Nikkei 225 and the Indian Nifty 50 likely is running into more serve corrections in the months ahead.
Even-though I only look for a temporary correction for the US-indices and do expect new rallies to new all-time highs later this year, we should be approaching an important peaks and a more sever corrections.
Going back to the March 2009 lows, a five rally can be counted in both the S&P 500 and the DJI, so it's only a question of time before a long-term peak is in place.
So this is not the time to be overly bullish stocks.