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Wednesday, May 18, 2022 8:57:08 AM
Expect More May Market Volatility
By: Almanac Trader | May 17, 2022
May has delivered much more than its usual market volatility. Stocks rallied strongly out of the blocks. NASDAQ jumped 3.2% on the third trading day, May 4, up 5.1% for the month. Then the bottom fell out. NASDAQ dropped 12.3% over the next five trading days. Bargain hunting came in over the past four days rallying NASDAQ 5.5%. In the chart here we have put 2022 on the right scale to highlight the trend since the moves in May 2022 have been about 10x the historical average. As you can see despite the increased volatility this year stocks have tracked the typical May Seasonal Trend rather closely. The market is still negative for the month. But if the trend continues the market has a good shot to turn positive for May. But many support levels have been broken and this appears to be a bear market rally.
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DiscoverGold
By: Almanac Trader | May 17, 2022
May has delivered much more than its usual market volatility. Stocks rallied strongly out of the blocks. NASDAQ jumped 3.2% on the third trading day, May 4, up 5.1% for the month. Then the bottom fell out. NASDAQ dropped 12.3% over the next five trading days. Bargain hunting came in over the past four days rallying NASDAQ 5.5%. In the chart here we have put 2022 on the right scale to highlight the trend since the moves in May 2022 have been about 10x the historical average. As you can see despite the increased volatility this year stocks have tracked the typical May Seasonal Trend rather closely. The market is still negative for the month. But if the trend continues the market has a good shot to turn positive for May. But many support levels have been broken and this appears to be a bear market rally.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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