Can Markets Hit 4100?

(10/18/22) Why is the 200-WMA considered critical support for the markets? While we've been in a correction-mode, we're technically not in a bear market...yet...because we haven't violated the bullish trend of the 200-WMA. Looking at the behaviors of the 20-DMA and 50-DMA relative to the 200-WMA is key. How much more steam does this rally have to exploit, and more importantly, what should you do with it? Note, our first target of resistance will be 3,900 on the S&P; if that is achieved, that's the cue to reduce some exposure to equities. Your gut instinct may tempt you otherwise, but no one knows how far this rally might go. Sell some more at 4,100, because we believe that's about as much magnitude as we're going to get in this rally over the next month or so.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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