Blogs -This is Still a Warning Sign - Broad Market Analysis

This is Still a Warning Sign - Broad Market Analysis


August 11, 2022

author

Knox Ridley

Portfolio Manager

Last week, Knox discussed whether uptrends would extend into Fall 2022. In this week’s Broad Market Analysis, Knox reviews why there’s still some uncertainty about whether this is the bottom or not. Watch the broad market update pulled from the Premium Webinar on August 10, 2022:

Broad Market Video Timestamps

00:00 - S&P 500 Index Review

02:45 - Key Fibonnaci Confluent Zones

03:36 - The Leading Diagonal Scenario

04:35 - The Pullback Scenario

06:58 - Time Factors

09:20 - Hedge Signals


August 10, 2022 - Broad Market Commentary


We still only have 3 waves up off the low. This is still a warning sign. There are high odds for a deep retrace once it moves in. The RSI can’t break out of the bear market resistance. There’s still some uncertainty about whether this is the bottom or not. 

The USD has further confirmed a top, but rates and crude have not. The next pullback needs to hold 3940 and then turn up for one more high in order to confirm a meaningful low was put in in June. Watch the full 1-hour technical webinar to hear Knox analyze six other premium tech stocks when you sign up for Premium.

Watch the Broad Market Clips:


Catch up on I/O Fund Broad Market Updates and Commentary

Evidence is Building for an Uptrend - Broad Market Analysis
In last week’s Broad Market Analysis, Knox reviews the evidence building the current uptrend that could extend into Fall 2022.


Are We Finally Out of the Bear Market?
Knox continues the Bear Market correction discussion and analyzes FAANG stocks and three other premium stock positions.


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About I/O Fund Portfolio Manager Knox Ridley

Knox Ridley began consulting on portfolios in 2007 and is an experienced growth investor in both bull and bear markets, which is hard to find these days. As the portfolio manager of the I/O Fund, he beat the top-performing funds on Wall Street in both 2020 and in 2021. His real-time trade notifications to premium subscribers have garnered 27 entries with over 100% gains in the last two years. Knox began his career as an ETF wholesaler in 2007 before becoming a portfolio consultant for large RIAs, FAs, and Institutional accounts. He is very keen on macro trends and is trained in Fibonacci Trading, Elliott Wave theory, as well as Gann Cycles. He also uses classical technical analysis to manage risk and identify great risk/reward setups. Knox is known for increasing and decreasing allocations for record-breaking returns.

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