Will Markets Give Up All of Monday's Gains?

(5/24/22) Markets were able to hold support at last week's lows--and important test of the bottom, and a set up for a double-bottom. Unfortunately, markets are pointing lower following Snapchat's poor report, which is weighing on FAANG stocks, which in turn are placing a drag on the S&P. A commonality of recent weeks has been a rally that gets sold-into, which has been the heart of the negative pressure on the 20-DMA. Price declines are also what's keeping the MACD signal in "sell" territory, and yesterday's rally did not trigger a "buy" signal. Because markets are so over-sold, we are expecting some type of intermediate-term rally providing investors an opportunity to rejigger portfolios and adjust for risk. There is SO much negative sentiment in the markets; when markets do what no one expects--that will be The Opportunity to take advantage of.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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