13.9 C
New York
Friday, May 14, 2021
spot_img

This is Not an Entry into a Bear Market, but an Opportunity in This Raging Bull Market

#BullMarket $FAANGs #correction #internet #value #earnings

$DIA $SPY $QQQ $RUTX $VXX

I do not believe that we are at the beginning a Bear market. I believe this is a long overdo correction, a pause to refresh at most.

The Internet and FAANG-related stocks were very fully valued based on analysts projections of earnings in Y 2021 or even Y 2022. So this correction is not unexpected. It is a pullback from the strong recovery market.

Things got expensive, they ran up, they got very concentrated and people got exuberant. People loaded up on 1 side, it does not take much of a bump to knock some apples off the cart.

Tech pushed indexes lower by of 4.59%, the 3rd straight declineer and worst 3-day performance for the sector since mid-March. Even with the recent drop, the sector is still the best performer YTD.

Tuesday, the major US stock market indexes finished at: DJIA -632.42 at 27490.89, NAS Comp -465.44 at 10847.70, S&P 500 -95.12 at 3331.84

Volume: Trade on the NYSE came in at 1-B/shares exchanged

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias.

  • NAS Comp+20.9% YTD
  • S&P 500 +3.1% YTD
  • DJIA -3.6% YTD
  • Russell 2000 -9.8% YTD

Looking Ahead: Investors will receive the weekly MBA Mortgage Applications Index and the JOLTS – Job Openings report for July Wednesday.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles