Market Scenario Back In Play

Vincent Catalano
Vincent Catalano • by Vinny Catalano, CFA
Chief Markets Strategist, Stuyvesant Capital Management •

Interesting stock market action these past few days... The current plunge helps put a recent scenario back in play.

Image source: DepositPhotos


Interesting stock market action these past few days. With an established downtrend made this past May (red arrow), the recent rally has pushed prices to a potential trend reversal (blue arrow) which would have made for a very interesting early 2023 as the logical expectation would be for the current rally to be little more than a counter trend rally and a resumption of the bear into Spring 2023. The current plunge helps put that scenario back in play.

 

 

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Disclosure:

Accounts managed by Blue Marble Research may presently hold a long/short position in the above mentioned issues and their inverse comparables.

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