Category Archives: Member Only

Selling Exhaustion Created A Temporary Low

Fed Chair Powell made statements last Thursday about two more 50-basis point rate hikes, one in June and one in July with the possibility of a hard landing, meaning the economy might tip into recession later on.  The S&P 500 fell to 3858 as Chair Powell was speaking.  3858 was just above our target of 3815,

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The Market May Have Capitulated Last Week In Short Term

Last week the market was having spasms and tantrums all over, up and down in big ways after the Fed announced a 50-basis point hike on Wednesday.  The market is under extreme stress, something is going to step in to stop this level of volatility.  It is just not normal for the market to be up or down 3-5% this frequently.

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The NASDAQ Lost March 14th Low

Last week the NASDAQ violated the March 14th seasonal low while the DOW and S&P 500 kept their February seasonal low intact.  A typical stock market seasonal low can occur between February and March.  All three indexes closed in a weak position at month end in April, which means more lows are to follow. 

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Will the March 14th Low Hold?

After the Fed Chair Powell gave statements about 50 basis point hike being on the table for May last Thursday, the market immediately turned bearish despite great earnings reports from TESLA and IBM.  The next day the market participants were talking about a shock-and awe hike of 75 basis points in pre-market and the market had a big selloff on Friday.

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Imminent Recession Or Not?

Since the Fed officials came out one after another to telegraph the speedier plan to raise rates and shrink balance sheet, the market responded with overwhelming negative sentiment.  As of now, the sector leadership since March 14th, 2022 is Consumer Staples (XLP up 9.78%) with  Energy (XLE up 7.11%), S&P 500

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