Raymond James predicts S&P 500 may enter a 'corrective phase' with potential declines of 8% to 10%

Market Performance: Stocks are experiencing significant losses, with the Dow Jones and S&P 500 down about 2% and the Nasdaq Composite down over 4% this month, despite November typically being a strong month for the market.

Future Predictions: Raymond James forecasts a potential 8% to 10% decline in the S&P 500 over the next three months, citing warning signs and "mechanical sell" signals that indicate underlying market weakness.

Risk Management: Portfolio managers are advised to manage risk levels as market internals show troubling signs, leading to a shift towards staples and value stocks amidst increasing volatility.

Investment Opportunities: Despite the anticipated market correction, there may be opportunities for investors to increase exposure to sectors like information technology, industrials, and basic materials once the market stabilizes.