Buyers are being overwhelmed by sellers in 2022 with countless former high flying technology stocks now decimated,
with the risk of a further much deeper decline growing by the day.
Brokers are receiving countless calls from their clients who are panicked,
and want out of the market,some at any cost
Retirees whose life savings are at risk in the US stock market are frightened and scared.
And each day that, the market falls yet again, those fears are manifesting themselves and growing
The S+P 500, and the Dow Jones Industrials have fallen for 6 and 7 weeks in a row, respectively.
Certainly a bounce back up the chart is called for right now
the market being as oversold in some indicators as they’ve been since 2008
Its important to note here that technically the S+P 500 met major overhead
Weekly Resistance yet again this past week at 4100, ..and failed yet again
The downside risk to the US stock market remains elevated and is growing by the day.
Technology stocks, bull market leaders as measured by the S+P Sector XLK 131.08 on Friday
have a very “rollover almost terminal technical pattern in place,
with considerably more downside risk still left on the chart.
Its right there in front of you !
Read your charts. Longer Term Weekly/Monthly Charts take priority right now
Memorial Day weekend in the US has traditionally been a “bullish” time for the US stock market.
But If the market continues to fall this week, the fireworks
could be in the countless thousands of “margin calls”
that will go out from brokers demanding more money from their panicked clients
or they will sell their stock to get it.
That’s coming next,. if the market continues to fall.
SPX Last 3901.35
Woods Of Connecticut