This week ended with a glimmer of hope as the market bounced up a little bit. From a stage analysis perspective, we are still in stage 4 because the major indexes are still below their 30 week moving average and all the other indicators are also in the red.
Notable news include:
- Fed rate increase
- Tech earnings: Apple and Alphabet strong, Amazon 2nd losing quarter
- July posted the best market rally since November 2020
If we have another couple of good weeks, we may see the major indexes above their moving average...
