It Was a Bear Market Rally, After All

(9/1/22) Cheerleaders singing the praises of a bear market bottom, bullishness abounding, and high prices for equities were back...were wrong. Turns out it was a bear market rally, after an assault on the 200-DMA failed. Breaking the 50-DMA confirms the diagnosis of a bear market rally, indeed, as the same pattern we've seen for this year continues. The markets' over-sold position provides an opportunity to rally. Today will begin on a weaker footing, and September, remember, is typically a weaker trading month. One silver lining--the volume in selling has been a little weaker than normal, which would be a sign of exhaustion by sellers. We're suggesting using any rally at this point as an opportunity to reduce equity risk in portfolios, and raise a little capital.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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