This is Still a Warning Sign - Broad Market Analysis
August 11, 2022
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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