Buying this dip could get 'very, very nasty' for investors, trader warns (via TradingNation)
"From a long-term point of view for this year, going forward, it's going to make a lot of sense if you're going to make a spread trade to get long the Dow, short Nasdaq, and that's simply because we've had 10 years of Nasdaq outperformance," Schlossberg said.
Craig Johnson, senior technical research analyst at Piper Sandler, agreed with Schlossberg that stocks could endure some more downside before resuming what he maintained was an intact "secular bull market." The same goes for the Nasdaq, Johnson said, which could bode well for Schlossberg's recommended trade.
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