[PLUS] October Weight of the Evidence Dashboard: Macro Lacks Stability, Rallies Lack Follow Through

JC Parets
October 4, 2022

From the desk of Willie Delwiche.

The Scales are tipped toward risk and away from opportunity.

A challenging macro backdrop is weighing on the market and unsustained rally attempts have kept Breadth and Trends & Momentum from joining Sentiment as reasons to look for opportunity.

Our Weight of the Evidence Dashboard fills in the details and includes a few high-level charts that we are watching as we head into the 2022 homestretch.

 

Key Takeaway: Macro conditions remaining challenging and market forces are not pointing to imminent improvement. With sentiment sour and stocks entering a strong seasonal period, there is potential for a bounce. If the longer-term trend for stocks remains lower & we continue to see more new lows than new highs, it could be difficult to get rally attempts to stick.

 

Click here to access the full report.

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