Quick update: The Nasdaq index has given a buy signal on a weekly timeframe. So far, it has worked out well on buying at lower prices and selling at higher prices. With the buy signal given, prior experience shows to wait for a consolidation or small move down before the move up begins in earnest. If you have favorite stocks, now might be time to look into deploying some cash in the coming weeks. The move higher over the last two weeks has been furious.
Note: Not investment advice. Consider it educational in nature. Please consult with a qualified investment professional before making investment decisions.
We can see the Nasdaq has approached the 34 week exponential moving average from below. This should provide some resistance to moving higher in the short term. The markets are thinking that the Federal Reserve will engineer a soft landing for inflation. Usually, when all participants agree on a consensus it doesn’t take much to swing opinion the opposite way.
With any gains you may make, think of donating to help the refugees and people of Ukraine. Over 10 million, more than the population of NYC, have been displaced from their homes. Civilians are being shelled and killed while trying to flee burnt cities. Make sure to see if the money donated is actually helping the people of Ukraine. Billions will be needed to rebuild once the war is done.
With peace, love, and hope,
smilingdad
smilingdad 