U.S. stock futures were flat following Tuesday’s reversal that saw the major indices end the day in the green.
While many investors believe us to be in a bear market, internals indicate otherwise.
In a bear market, stocks become listless. But as we can see in the average true range on the Dow, which is over 600 points a day, we still have heightened volatility. The wild swings don’t indicate a bear market but rather a market that’s in play.
Investors are awaiting the Federal Reserve’s key decision on interest rates coming on Wednesday as we contend with high inflation, fears of a coming recession and the ongoing Russia-Ukraine war.
In this stock market recap video, you’ll discover the No. 1 sector right now… how to gauge market action with the insane volatility… the biggest earnings reports and what to expect… major Fed data and what it means for tech stocks… key internals pointing to a major event in the markets… plus my top ETF.
With all of the headwinds facing Wall Street and earnings events sending volatility soaring, it’s been a tough tape to trade in an already unfriendly market.
The gamma squeeze we saw last Thursday pushed markets right back to where we started the week…
So unless you had perfect timing, that run higher was all just a big tease.
The New Money Crew strategies were knocked around hard early last week… But we still found a way to claw out some earnings gains!
And now with some of the market’s biggest unknowns behind us, institutional order flow should start to pick up again…
The Stochastic Indicator, like the RSI, is a range-bound oscillator. However, where the RSI is calculated based on average gains and losses, stochastics compare the current price level to its range over a given period of time. Stocks tend to close near their highs in an uptrend, and near lows in a downtrend. Therefore, price action that moves further from these extremes toward the middle of the range is interpreted as an exhaustion of trend momentum. A stochastics value of 100 means that the current session closed at the highest price within the established time frame. A stochastic value of 80 or above is considered an indication of an overbought status, with values of 20 or lower indicating an oversold status.
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