Ok, so yesterday I made a post about the indicies are heading towards their pre-pandemic levels (i.e S&P500 below 3400, Nasdaq below 10000) and I still hold this opinion that we're probably gonna see these levels in a couple of months. However I think the markets are oversold currently because Nasdaq dropped almost 1000 points in a week and at this rate we will see those pre-pandemic levels only within a month or 2 at max. But then what happens? I mean, recession in next year is quite possible but this means that the markets should continue to drop throughout the year. BUT it can't continue to drop at this pace otherwise it will down a lot more than the pre-pandemic levels, at this rate we might be going back to 2015-16 levels this just seems absurd. I think markets are overreacting and oversold right now and I'm considering an entry for a short term position in a good company like $GOOG or $KO. Thoughts?
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