Jan 24, 2023
(1/24/23) A declining trendline is being met by a rising
trendline of lows from the bottom of the market, established back
in October. The compression of prices coincided with an inverse
head-and-shoulders bottoming-pattern, setting up markets for a
bullish advance. All of this flying in the face of conventional
market wisdom: Everything's bad this year, we're going to have a
recession, and earnings are going to slow down, the Fed's hiking
interest rates, and we've got inflation...and in the midst of all
this negativity, the markets have been putting in a much more
bullish picture, bringing us to a critical juncture. Markets
yesterday broke out of the 200-DMA and that declining trend line,
and in the words of Loverboy's "Working for the Weekend,"
'everybody's looking to see what it does now.'
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts,
CIO
Produced by Brent Clanton
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