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THE WEEKLY TOP 10
Table of Contents:
1) The Fed’s change in stance is much more important than the omicron variant.
2) The Fed is telling us that they have has moved the “safety net” to a lower level.
3) BOTH the U.S. & China have shifted their policies dramatically this year.
4) The set-up in the marketplace as we moved into Thanksgiving week was not a good one.
5) “Gamma” and “momentum based algos” work in both directions.
6) The cracks in “other” markets are growing.
7) The euro/yen cross is sending out a warning signal as well.
8) Support/resistance levels for the S&P 500, Nasdaq and Russell 2000.
9) Where’s MY offer to coach a Division I college football team?
10) Summery of our current stance….Don’t fight the Fed (or China).
1) We’re going to take a different tact this weekend. A couple of weeks ago, we stated that the stock market was a very unhealthy one…so much so that we took the position that we were headed for a bear market in 2022. The developments of the past few weeks have only emboldened our stance. This weekend, we’ll review why we believe the “set-up” in recent months (and even years) has made a bear market likely next year…and then we’ll talk about how the more recent developments have now made it a highly likely outcome.
For those who read out work regularly, some of this will be a bit repetitive, but we wanted to put our entire thought process on display this weekend…as we move into the end of ...