The Incessant Stall
Tim Knight | Mar 22, 2022 09:26AM ET
What an electrifying and exciting market we’ve all enjoyed since Sunday’s opening bell.
I mean, honestly, you would assume there was NOTHING going on in the world, and the last time I checked, there’s more going on in the world right now than in, oh, DECADES.
A key chart for me continues to be the iShares Russell 2000 ETF (NYSE:IWM), which is positioned near the peak of its range. It seriously needs to start weakening, or else we could find ourselves make in the same damned quagmire of a market we’ve enjoyed for going on fourteen years.
As before, a key is going to be the mega-mega-mega-cap stocks, Apple (NASDAQ:AAPL) in particular, which have held this beast up. AAPL is definitely at a point indicating the counter-trend bounce is exhausted, but honest to God, this market is acting so bizarre right now, it’s hard to move confidently.
Volatility, also known as the How Fun Is This Market to Trade Indicator, looks like a hospital’s EKG. Our last peak was way back on March 7th, and it’s had the ever-loving life beaten out of it.
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