This Bear Market Rally has much Further to Go
October 28, 2022
Knox Ridley
Portfolio Manager
Weekly Stock Market Levels - 10/27/22
Last week we looked at several markets around the world that have bottomed before the U.S. This week, we continue this theme by showing a handful of global markets that need one more push to new highs in order to complete their larger uptrend. This is ultimately bullish for stocks, and it's also developing with the U.S.. The DOW and the Russell 2000 are also suggesting new highs are possible. While everyone is focused on Big Tech making new lows, they are ignoring small caps, financials and industrials that are in notable uptrends. Even within tech we are seeing new leadership develop.
These new leaders tend to be the stocks that outperform in new uptrends. We also go deep into the S&P 500 to show you the needle this market has to thread in order to fully confirm a new uptrend is underway. We provide the support levels that must hold and the price regions overhead to get cautious. The signs are positive, but we still have a long way to go before we fully confirm a new large degree uptrend is underway.
10/27 Broad Market Levels Timestamps
00:00 - Intro/Follow Up on Last Week's Broad Market Video
01:15 - Global Markets Bottoming
03:48 - The Dow Needs One More Move Higher
04:33 - Caterpillar, Inc.
05:42 - S&P500 and Knox's Count
08:09 - The Broader Picture and the S&P 500
10:08 - Regions to be Cautious in
12:43 - Conclusion
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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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