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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Gingerbread Town

Gingerbread Town



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Friday, October 14, 2022

SPX 2022: Buy Or Sell Or Stay Out?

* See UPDATES below...

The following excerpts are taken from my 2021 Market Wrap-Up and 2022 Forecast (much of which has transpired, so far, this year).

Judging from the volatile rollercoaster action in markets this year, it seems that traders would have been better off, if they had:

  1. liquidated their equity positions,
  2. then just stayed with cash ($USD),
  3. then gone on vacation,
  4. then waited for capitulation before jumping back in, as I've described here, here, here and here,
  5. AFTER the Fed has stopped raising interest rates.

Instead, we've witnessed a dog's breakfast of volatility that will likely continue, due to the market's penchant for trading on "greed and fear" and "rumour and news" tactics.

SPX Monthly

SPX Daily

How markets closed the week (percentages gained/lost this week)...

US Major Indices: One-Week % Gained/Lost

US Major Sectors: One-Week % Gained/Lost

World Currencies: One-Week % Gained/Lost

And this roundup for the week from ZeroHedge...

* UPDATE Oct. 15...

It looks like markets have more downside in store over the coming weeks and months...plus a lot of volatility...

ZeroHedge excerpt

ZeroHedge excerpt

* UPDATE Oct. 19...

The following summary is taken from today's Beige Book report...the yellow highlights are mine.

The overall themes in the 12 Federal Reserve Districts are pessimismweakening demand, tight labour markets, and elevated prices.

Any way you look at things, if wages keep rising, this will contribute to higher inflation (in spite of potential lower prices) and lower returns for companies and their shareholders...and further volatility in the markets.

So, all in all, I'd say that today's report does not paint a rosy picture, for the foreseeable future.