The Daily Gold, Released on 7/22/22
The S&P 500 is rallying but following the historical path that other bad bear markets followed. Typically, there is a decline of around 20% and then a bear market rally that reaches the 200-day moving average. The S&P 500 has ~5% more upside before it tests the 200-day moving average. The average of 6 of the worst bear market suggests a secondary peak at the 200-day moving average in August.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.
Jordan Roy-Byrne Forecasts When The Current Stock Market Bear Rally Will End added by Herman James on
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I am not a big tech supporter – especially when the analysis is on a completely manipulated market but I have to say every time I see this guy, I think geez he is weird looking. People’s appearances don’t usually bother me but this guy makes me cringe. Sorry he pops up here a lot.
Having said all that uselessness, Algos probably follow tech trends…so we can’t complete ignore the tech trends.