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10.28.22 – FRIDAY MARKET OUTLOOK

Market Outlook Friday
 

I expected more of the bear trap today because of bad earnings from Google, Amazon, and Microsoft, but not such a ridiculously strong rally. We finished over 3.46% up today. The VIX futures were in contango, pointing to higher markets, so it was obvious that any pullback was temporary. But we had no pullback or little one (compared to today). This clears the path to higher prices next week. I still expect the market to go to 200-day MA at the 4,100 level. Once there, we will see some battle between bears and bulls and see if the bear market is over or if this is just a bear market rally.

 
Market Outlook Friday
 

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