Hayes Martin, president of advisory firm Market Extremes, reiterates the cautionary advice he provided a week ago: Don’t get carried away if and when the market rallies. It’s most likely a counter-trend rally within a bear market.
The U.S. stock market’s huge decline on May 5 actually boosts the odds of a strong rally beginning soon, even if it won’t kick off a new leg of the bull market.
Martin said the net effect of recent huge swing is to increase his confidence that this 8% to 15% rally could begin soon. “We’re getting closer with today’s action,” he said. Similar divergences were evident in other parts of the market as a well. The equal-weighted ETF version of the Nasdaq 100 index QQEW, -1.60% was beating the cap-weighted version QQQ, -0.89% by 0.4 of a percentage point, for example.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-BitMEX CEO Hayes Asks for No Jail Time, Ability to Travel Freely: ReportBitMEX co-founder and former CEO Arthur Hayes, who plead guilty to violating the Bank Secrecy Act, has asked for no jail time and the freedom to travel freely and live abroad, according to Bloomberg. By NelWang
Read more »
Former BitMEX CEO Arthur Hayes Requests for No Jail Term and Freedom to TravelArthur Hayes has asked for no jail time and the freedom to live and travel abroad after pleading guilty to violating anti-money laundering laws.
Read more »
The New Aston Martin V12 Vantage Is A 690 Horsepower Swan SongThe V12 Vantage is limited to just 333 examples globally, and the order book is already closed.
Read more »
Biden Rebuked for 'Openly Praising War Profiteering' at Lockheed Martin\u0022This is all the [Democrats] can deliver,\u0022 said one critic. \u0022War, policing, capital consolidation for warmongers, and more war.\u0022
Read more »
Biden tours Lockheed Martin plant to promote Ukraine aid and US manufacturingPresident JoeBiden pressed Congress for more funding for Ukraine aid while touting American manufacturing capabilities during a speech in Troy, Alabama.
Read more »