Can Markets Continue Their Rallying Trend?

(9/8/22) Markets rallied off important support on Wednesday, but failed at the 50- and 100-DMA's. However, the market did sustain the rising trend line, with sell signals still in place. This may get us to a point where markets can consolidate to provide another buying opportunity. Markets also held support at May's lows. Today's ECB rate hike announcement and the Fed's policy comments later today will affect markets--we're expecting a 75bp Fed rate hike later this month. Oil has also been on sell signals and over-sold, but there was a death cross of the 50-DMA below the 200-DMA yesterday, suggesting oil prices could go lower. Prices remain under pressure as demand crumbles from the weight of higher inflation.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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