We had another selloff based on no news, just recession fears. Since most people working on Wall Street are on vacation, this selling is mostly retail. That could be good as it may spark a rally in January. However, the problem we are seeing is that the market is breaking below its Continue reading →
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12.27.22 – TUESDAY MARKET OUTLOOK
The market acted as expected at first and went down, but then rec covered some losses and traded sideways on a low volume. It managed to hold the support levels: My expectations for tomorrow (Wednesday) are positive and I expect the market to go higher. The trend forecast shows a strong rally Continue reading →
Technical view: iShares Russell 2000 ETF (IWM)
IWM is in stage #1. The index is trading in a wide sideways channel so far, and even if it drops back to the $165 level, the expectation will be the index may bounce back up. The chance is that the IWM (small caps) will outperform large caps next year. Expect the “January effect” Continue reading →
12.22.22 – THURSDAY MARKET OUTLOOK
It seems Santa is not coming to town this year. We received economic data that were better than expected, and the market sold off on fear that FED may tighten more because the economy is good. It is silly. On the one hand, the investors are panicking on fear of the US economy going Continue reading →
12.21.22 – WEDNESDAY MARKET OUTLOOK
The market continued higher, as expected. In the morning, we had some sideways moves and rallied toward the end of the day (the media told us that the rally was thanks to Nike… maybe). But we saw a few other technical coincidences that convinced me that this rally was not just because of Nike. Continue reading →
12.20.22 – TUESDAY MARKET OUTLOOK
The market performed as expected today, although not exactly as per the script. Most of the selling happened overnight. The market opened with a down gap but then rallied since then. The rally was muted, however. It was a bit surprising to me since we had a newsless environment and negative sentiment. As we Continue reading →
Technical view: Meta Platforms Inc. (META)
Meta (FB) is in stage #4. Are we seeing the end of Meta’s year-long decline? It is still in stage #4 but definitely improving. If this trend continues and it starts morphing back into stage #1 or even resumes stage #2, that would be a feast and a great opportunity to buy. You don’t Continue reading →
12.19.22 – MONDAY MARKET OUTLOOK
This market is completely news-driven, better say sentiment-driven, because as of now, there are no news but negative sentiment and fear about a recession which may not even come at all. After some initial positive upward movement in the morning, the market quickly turned negative and ended down 0.9%. And the future do not Continue reading →
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