• 722 days Will The ECB Continue To Hike Rates?
  • 723 days Forbes: Aramco Remains Largest Company In The Middle East
  • 724 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,124 days Could Crypto Overtake Traditional Investment?
  • 1,129 days Americans Still Quitting Jobs At Record Pace
  • 1,131 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,134 days Is The Dollar Too Strong?
  • 1,134 days Big Tech Disappoints Investors on Earnings Calls
  • 1,135 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,137 days China Is Quietly Trying To Distance Itself From Russia
  • 1,137 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,141 days Crypto Investors Won Big In 2021
  • 1,141 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,142 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,144 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,145 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,148 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,149 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,149 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,151 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

The State of the Trend

Last week we pointed out that weak seasonals and the FOMC meeting may cause the market to move in opposite directions. The indices surged ahead of the FOMC meeting and sold off afterwards.

The duration and the size of the moves in both directions were well within the norm for the average swing cycle and size for the last 6 months, as measured by OddsTrader:

After peaking on Dec. 12th market breadth is deteriorating and, at the current rate, is likely to bottom out mid-week:

As long as the SPX stays above 1400, bulls can hope that it is embarking on a more sustainable trend, similar to that of the December '11 - March '12 rally. A drop to 1390 will coincide with channel support and be consistent with a rate of advance similar to the June - September '12 rally:

 

Back to homepage

Leave a comment

Leave a comment