Market Update

Uncategorized Mar 14, 2022

 

 Last Wednesday both indexes displayed major rallies. Many thought this would be our long awaited follow-through day, that would trigger market reclassification to GREEN. This did not happen because the volume was very low and don't exceed the prior day's levels. The reason volume is so important in these cases is that it indicates whether all the institutional players are participating or just a select few.

Sure enough, the rally was not sustainable as markets again fell Thursday and through today. This correction is now in its 12th day with no sign of a major reversal. The good news is that the lower the market goes, the more the market leaders that we buy should be brought down to more reasonable price levels.

And so we wait. We wait for that major follow-through day that will signal a market reversal. We also hope in the interim that our current lows of Feb. 24th aren't undercut, which would extend our wait by at least 4 days.

Stay tuned.

Duncan Campbell 

 

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