Lately, I’ve been talking about how much of a chop shop this market is — flip-flopping between being up and down… back up and down again…
And the market has kept this unrhythmic trend going all week, even during the meat of earnings season after strong reports from some big companies… companies not named Netflix, at least.
But if there’s one thing traders need to pay close attention to, it’s interest rates. Hell, it’s all I’ve been able to look at.
Traders need to be watching the 10-Year Treasury like a hawk. Right now we're hovering near 3%, and I expect it's going to come back down close to 2.5%.
If that happens, it should be off to the races for a bit for risk-on stocks like tech. However, the problem is it’s going to be back and forth like that all year long.
All the talking heads on Wall Street and in the media are trying to push for a binary market and easy outcome to all of this — accompanied by a soft landing or a crash. But it’s just not going to work out like that, especially with the market conditions we’re in right now.
So my advice to anyone trying to make it to the end of 2022 alive and with their accounts intact is to keep your trades small, easy and fresh.
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