It’s the best 6 months of the year for the stock market (November – April). Yes, seasonality was a tailwind but the real reason many stocks are doing downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... or Triangle/Wedge breakouts is because of speculation that the Federal Reserve is going to slowdown its pace of rate hikes from 75 basis points a meeting to 50 basis points.
On Wednesday, November 23, 2022, we got the Fed’s Meeting Minutes which showed that most voting members agreed to slow down the pace of interest rate hikes.
The number of Americans filing new claims for jobless benefits increased to a three-month high last week amid rising layoffs. SalesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... of houses have plunged as well. This has led some institutional investors to believe that the Fed is over-tightening. For these reasons, the market is having a relief rally on news that the Federal Reserve may soon slowdown rate hikes.
SPY stock chart shows an uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... with a downtrend channel breakout. Therefore, many individual stocks are also showing the same downtrend channel breakout patterns. SPY is in a technical weak downtrend rating but with the money flow going positive last week, we could update that technical rating soon.
Bad news is good news because markets think the Fed will slow down, says Short Hills’ Steve Weiss
