Name: What do Kim Kardashian & The Market Have in Common?
Uploaded: 2022-05-16T13:41:00+00:00
Duration: 3 min 39 s
Description: (5/16/22) Markets put in a big bottom last week--at least for the short term. Even though markets finished down for the day on Thursday, they rallied back above the open, setting up a green candle, an

2 years ago

MarketBottom KimKardashian Inflation FederalReserve Markets Money Investing

(5/16/22) Markets put in a big bottom last week--at least for the short term. Even though markets finished down for the day on Thursday, they rallied back above the open, setting up a green candle, and establishing a test of the level at three standard-deviations from the 50-DMA. Friday's subsequent rally pushed the index up to within two standard-deviations from the 50-DMA, and got close to triggering a money flow buy signal in a market that was still very over-sold. Establishment of this bottom now prepares the market for a rally up to the 20-DMA, currently on the SPY at 416-418. That level is the top of the current downtrend line, around 430 on the S&P. All of the elements are in place to create a rally back up to higher levels. Whan that happens, use this as an opportunity to reduce risk and rebalance portfolios.

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