After failing to decisively break through its 200 day moving average TWICE since November 30th, coupled with a couple brutal beatings last week, this market is still willing and able to ravage the bulls. Let’s see what this week brings, but with a p/e near 20 and Jay Powell repeatedly ELI5ing to the market that a pivot is the last thing on his mind (most likely to avoid the mistakes of the 1970s (i.e. easing up too soon)), the market is hardly a screaming buy right now.
Monday Morning Charts
Monday Morning Charts
Monday Morning Charts
After failing to decisively break through its 200 day moving average TWICE since November 30th, coupled with a couple brutal beatings last week, this market is still willing and able to ravage the bulls. Let’s see what this week brings, but with a p/e near 20 and Jay Powell repeatedly ELI5ing to the market that a pivot is the last thing on his mind (most likely to avoid the mistakes of the 1970s (i.e. easing up too soon)), the market is hardly a screaming buy right now.