Stocks have further to fall before buying prevails

Wall Street’s summer drop is probably not over yet.

Several analysts say that although the market has dropped sharply in the last few days, it still has a long way to go before it can reach a steady bottom. Even with the promotion today.

The S&P 500 sank more than 6% after a record high last month as the US-China trade war intensifies, prompting investors to submerge stocks for safer assets such as bonds and gold. The sharp decline pushed the indexes through key technical areas and left a breakthrough in the massive rally.

“This is a correction of an uptrend that has not yet ended,” said John Roque, technical analyst at Wolfe Research.

 Trader Aleksandar Kumanov

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