After Russia-Ukraine worries tipped the S&P 500 SPX, -1.01% into correction territory on Tuesday, investors are rightly asking what’s next?
After warning us in October, the newsletter editor who spent 22 years as an equity analyst at Allianz Global Investors, is now even more convinced. Among his evidence is this laundry list of assets he says now trading below their 250-day moving averages, viewed as a bearish signal by some: “For example, the ProShares Short S&P 500 ETF SH, +1.15%, which is designed to move in the opposite direction as the S&P 500 on a daily basis, rose 89%. Similarly, the ProShares Short QQQ ETF PSQ, +1.05% rose 96%,” he said. Others designed to move at twice the rate — the ProShares UltraShort S&P 500 SDS, +2.09% and QQQ QID, +2.06% ETFs — surged 184% and 210%, respectively, he said.
The buzz It looks like any summits for Thursday, between U.S. and Russian presidents and foreign ministers as more sanctions trickle out from the West, while Ukraine officials are sounding more concerned with its national security head calling for a nationwide state of emergency.Stock of home DIY group Lowe’s LOW, -3.64% are rising on strong results. TJX TJX, -1.36%, Molson Coors TAP, -0.84% and Overstock OSTK, -8.21% are still to come. After the close, Ebay EBAY, -0.56%, Hertz HTZ, -1.
The strategist they are refering to is a Twitter user LMFAO
There won't be a bear market unless a side effect of COVID is amnesia...
Is coming? Pretty sure we have been in one for a couple of months now.