S&P 500 ENTERING CORRECTIVE PHASE, COULD FALL 8-10%: RAYMOND JAMES Raymond James warns that the S&P 500 may drop 8–10% over the next three months. November’s losses—S&P and Dow down ~2%, Nasdaq over 4%—reflect weakness in tech and overall market breadth. Javed Mirza, the firm’s technical strategist, says mechanical sell signals and poor market internals indicate an intermediate-term correction. Portfolio managers are reducing risk, favoring staples and value, while any short-term bounce is expected to stall near the 50-day moving average. Mirza views the pullback as a potential buying opportunity in tech, industrials, and basic materials.(*Walter Bloomberg)