• 288 days Will The ECB Continue To Hike Rates?
  • 288 days Forbes: Aramco Remains Largest Company In The Middle East
  • 290 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 690 days Could Crypto Overtake Traditional Investment?
  • 695 days Americans Still Quitting Jobs At Record Pace
  • 697 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 700 days Is The Dollar Too Strong?
  • 700 days Big Tech Disappoints Investors on Earnings Calls
  • 701 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 703 days China Is Quietly Trying To Distance Itself From Russia
  • 703 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 707 days Crypto Investors Won Big In 2021
  • 707 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 708 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 710 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 711 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 714 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 715 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 715 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 717 days Are NFTs About To Take Over Gaming?
How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

The State of the Trend

Last week the daily trend turned down, while the weekly and monthly trends of the three main US indices (DJIA, NDX and SPX) remain up.

Apparently, GS is the only investment bank on Wall Street that didn't get the FED's memo, that stock prices have reached a permanently high plateau, and that from now on no declines will be allowed whatsoever. In their monthly chartbook they came up with a 1275 forecast for the SP500, as reported by Seeking Alpha.

Since we subscribe to the "Trust but Verify" school of thought, we decided to double check, and it turns out they got it right. Should the monthly SPX drop below the pivot line at 1362, the next support comes in at 1276.25, to be exact.

SPX

Next, we took a look at their 20 most and least recommended stocks, and sorted them according to their monthly risk/reward and trend ratios. The end result (published on my blog) shows that their recommended stocks have on average a much higher Risk/Reward ratio of 89.5 v 56.5% for the stocks to be avoided, and on average are more overbought as well: 73.47 v 4.24%.

Let's hope they got the fundamental picture right.

 

Back to homepage

Leave a comment

Leave a comment