This is the most overbought we've been in 2022.
U.S. Stock Index Futures Most OB in 2022
- Thread starter Rickshaw Man
- Start date
Does anyone think we could hit an all-time high by year-end?
Don't discount midterm elections and a win by the GOP of both houses, the party that says it worships God but actually worships money and corporations. Democrats have just shown that despite power in all three institutions that they don't want to serve the middle class but that all leaders are beholden and handcuffed by corporations and their lobbyist ilk. That's all good for stocks and bad for the broad population. It greatly benefits the elites.
I just can't believe the bear market that follows a decade long bull market created by QE only lasts 6 months.
After the midterms, we will get a clearer picture.
Gasoline prices have dropped, but food and electricity that's powered by natural gas have not budged.
Just look at April 2020, and see how long that one lasted.
Only if inflation continues to decline, and the Fed signals a pause/pivot. Which I do not think they will. Not yet. Putin going away would certainly help the bull cause!
The bears had a nice opportunity today. Overbought conditions and a nice shooting star in all the indexes yesterday left the field wide open. Bull's mopped the floor with them bears. Today's volume was weak, yet we closed at the highs. Its pretty much over for the bears at this point.
