⚠️Wall Street Week Ahead: *Volatility Ahead Of Central Banks, Trend Crossroads 👉 $DIA $SPY $QQQ $IWM $VIX
I have been bearish throughout this entire rally since the mid-June bottom. I wrote a few weekly posts in which I said that I don't know whether stocks will necessarily fall this week, but that I expected them to. When they finally did top out Aug. 16, having lost nearly 10% since then, some readers commented that, of course, at some point markets will fall. They said I was a"permabear," irrationally pessimistic.
But assets don't move in straight lines. When I make a call, I am not saying that the asset will go in my direction from that moment. I clarify that the asset may move the other way first. So, how to know if my call is successful or not? There must be a gauge. Those are peaks and troughs.Here you can see the short-term uptrend versus the long-term downtrend. My call is intact if the short term doesn't reverse the long term with higher peaks and troughs.
The price fell about 700 points, or 14.6%, between the Jan. 4 record peak and the Feb 23 low. Then, it fell another 1,000 points or 21.6% between the March 28 peak and the June 17 low. That's the kind of decline I'm looking for. The price has so far dropped 419 points, or 9.7%, from its Aug. 16 high. If it at least registers a new low, it will fall at least 688 points or almost 16%. On Aug. 25, I forecast that the S&P 500 would fall toward 3,000.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top 5 Things to Watch in Markets in the Week Ahead By Investing.com⚠️3 Things to Watch This Week: -Stock Market Volatility -Central Bank Rate Hikes -Russia/EU Gas Crisis 👉 $DIA $SPY $QQQ $IWM $VIX
Read more »
Reserve Bank of India preparing to trial a CBDC with public sector banks and fintechsThe Reserve Bank of India is about to launch a trial on CBDC and might have it up and running before the end of the fiscal year, according to local media Moneycontrol.
Read more »
Asia-Pacific Markets Trade Mixed; Australian Central Bank Decision AheadShares in the Asia-Pacific traded mixed at the open on Tuesday ahead of the Reserve Bank of Australia’s rate decision.
Read more »
3 Stocks To Watch This Week: GameStop, Kroger, CVS Health | Investing.comStocks Analysis by Haris Anwar/Investing.com covering: Amazon.com Inc, Kroger Company, CVS Health Corp, UnitedHealth Group Incorporated. Read Haris Anwar/Investing.com's latest article on Investing.com
Read more »