An awful lot has happened since the beginning of the year, including further rate increases, bank failures, and continuing concerns about rising inflation and weakening earnings. Yet the market shrugged it all off, with the S&P rising 7% while the tech-heavy NASDAQ rose nearly 17% as the first quarter came to an end.
Of course, if you had listened to those bearish analysts who kept insisting the market would revisit last October’s lows you would have missed out on some substantial gains. This is why you need to pay more attention to the price action than what you might be hearing from those who may not have your best financial interests at heart.
For example, even though 2022 ended on a sour note, our Chief Market Strategist Tom Bowley alerted our members on January 6 that signs were pointing to a market reversal, and, within a few weeks, the S&P climbed by 9%.
But honestly, no one really cares about the past. Everyone wants to try and guess where things might be headed in the future. And that is not so easy, especially when many market technicians continue to be bearish, pointing out that future earnings are likely to be weak, that a recession is inevitable, that the Fed will continue to raise rates. Yet as you can see in the chart above, the market has shown remarkable resilience in spite of all of the naysayers. Which brings me to the big question — what’s next?
We’re going to explore that exact subject in our upcoming webinar,“The Bull’s Eye Forecast” next Saturday, April 15, when Tom Bowley discusses Market Manipulation and Market Rotation and teaches participants profitable strategies for current market conditions. You can register for this FREE, timely event by clicking here.
No one cares about your money more than you. This is why you need to pay more attention to what is ACTUALLY happening rather than what is being communicated to you by those who have their own interests in mind.
At your service,
John Hopkins
EarningsBeats.com