The positive earnings reports from the big-tech stocks that the bulls were hoping for has not come to fruition. With yields remaining high and geopolitical tensions on edge, this raises the odds that we’ll see further weakness in stocks going forward.
The S&P 500 & NDX 100 are breaking their Sept/Oct lows and the Russell is testing its 2022 lows. Therefore, unless these indices bounce immediately and strongly…and in a sustainable way…we’ll have confirmation of an important change in trend for the stock market.
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