Momentum Monday 06 February 2023
I started last week's Momentum Monday with one word, "Positive" and that carried on to the week just past.
lt;With the renewed optimism don't forget to share your stock of interest for all of us in the Village Square... read on here if you want to learn moregt;
It's amazing what a difference a month makes. January has done more than enough to distract us from real world issues such as inflation and so forth. This despite analysts all over the world, including here in Australia, increasing their expectations on interest rate rises, yet the market hasn’t battered an eye lid.
It reminds us why traders often choose to ignore analysing the macro scene, preferring price to do the research for them. And with so many stocks showing an improvement in sentiment, is it any wonder we have all forgotten about the impending crash.
I was asked by someone this week, "when will the crash come?" My response, "when we least expect it."
Broader market sentiment
Samp;P500
Despite the negative close on Friday, it was another positive week for the Samp;P500.
Samp;P500 Weekly chart
The index now...