Companies selling things people want are outperforming those selling things people need, which is a good signTechnical market data suggest the current rally may not be a bear market one despite the views of analysts like Jeremy GranthamBears like Jeremy Grantham might see recent strength as another bear market rally, but the technical action increasingly suggests this rally really is different.
Importantly, it’s way above anything seen during the failed rallies seen in the first half of 2022, which were characterised by ever-dwindling participation. In the US, says Delwiche, almost every day this year has seen more stocks hitting new highs than new lows. Indeed, there were almost as many such days in January as in all of 2022.
Technical strategist David Keller says indices tracking consumer discretionary stocks are breaking out relative to indices tracking consumer staples stocks – that is, companies selling things people want are outperforming those selling things people need. The same indicator warned of impending weakness when it peaked in November 2021, two months before markets topped out, but now it’s indicating impending strength.
Additionally, the S&P 500′s 50-day moving average is about to cross above its 200-day moving average. Some technicians see this so-called golden cross is confirmation of a change in trend – from bear to bull market.
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
21 Irish companies exhibiting at Arab Health Dubai21 Irish companies in the medtech and wider healthcare sectors are exhibiting at Arab Health Dubai, a healthcare event taking place this week.
Источник: RTEbusiness - 🏆 16. / 61 Прочитайте больше »
Источник: image_magazine - 🏆 17. / 59 Прочитайте больше »