The stock market could rally more over the near-term, but given what the Fed is really trying to accomplish, we'll see lower-lows eventually in this bear market.
Table of Contents:
1) What is the Fed really dealing with right now…and what are they really trying to accomplish?
2) One reason why a new low will be reached in stocks eventually is because inflation will remain high.
3) Another reason is that a recession is all but a lock right now.
4) The word “capitulation” is mis-used quite often. (We haven’t seen it yet, but it’s coming eventually.)
5) There are several developments that point to further gains over the near-term in the broad stock market.
6) Update of the SPX & NDX charts. (Positive MACD crosses.)
7) However, the stock market NEEDS help from the chip stocks.
8) More bullish developments from the energy sector.
9) Mid-Term Elections….Some surprising changes from a few key voting groups.
10) Summary of our existing stance…….We cannot go back to what existed in 2021.
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Matthew J. Maley
Chief Market Strategist
Miller Tabak + Co., LLC
Founder, The Maley Report
275 Grove St. Suite 2-400
Newton, MA 02466
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