Week in review & what to expect in the coming week - 19Mar22
The week ended with a good rally in the US after the decline since the start of 2022. Is this the bullish reversal that the market is looking for? S&P500 as per 19Mar2022 The technicals point to an uptrend as per the 1 Day chart above . I remain optimistically cautious as we saw a death cross formed recently on 15 Mar 2022. It would be good if this is the reversal of the market downtrend. 1 Day stochastic is pointing to a "pullback" soon as it approaches the overbought region. Of course, the market can continue to move with stochastic ranging along the top "overbought region" for endured periods. Performance by sectors as per market close 18Mar22 As per above, almost all sectors saw recovery except for utilities as investors turned away from "defensive" stocks in lieu of the "rally". Coming pullback and potential black swans The coming "pullback" would be an important indicator if the recent lows would be challenged. There a...