Q3 2022 big-tech earnings are behind us – with only one winner. Apple reported inline results with weak guidance – but enough to send the stock 7% higher. The rest however were slaughtered on weak earnings and forward guidance. But it was the Facebook’s “metacurse” which sent the stock reeling almost 30%… Amazon was also crushed on a poor Q4 outlook.
Bear Market Rally Approaching Resistance
My best guess is the current 11% bear market rally could go a little further yet (e.g. maybe 5-6%). However we are now approaching a technical area of resistance. I also offer a new trade on TLT… on the thesis that yields will reverse course at some point in 2023
‘Fed Whisperer’ Spurs Market
The rally is on… but how far can it go? I will share my thoughts. And whilst we’re likely to see a short-term shift in sentiment… longer-term headwinds remain.
Short Term Rip… Then a Bigger Dip
Another bear market rally or something else? My view is the former until proven otherwise. For me, we need to see yields and the dollar peak. But in the meantime – don’t be surprised to see this market add 10%+ before pulling back.
For a full list of posts from 2017…