Wealthnewshubb
Advertisement Banner
  • Home
  • News
  • Management
  • Contact
No Result
View All Result
  • Home
  • News
  • Management
  • Contact
No Result
View All Result
Wealthnewshubb
No Result
View All Result
Home Management

More Stocks Take Part in Rally – Validea’s Guru Investor Blog

admin by admin
September 20, 2022
in Management


The market recently saw a rebound, and a large number of stocks took part in the rally, a sign of its durability, reports an article in The Wall Street Journal. The S&P 500 climbed up 15% from its June low and many stocks set new yearly highs in August. In another encouraging sign, 93% of S&P 500 stocks closed above their 50-day moving average last month as well.

While the push could be a signal that the rally will last, no one is really willing to call the market’s bottom after such a volatile year. “It’s…a healthier rally…than the ones that preceded this,” Liz Ann Sonders of Charles Schwab told The Journal, adding, “But I don’t think we can say with any confidence that the bottom in June was…the start of a new bull market.” Indeed, investors are still bracing themselves for more interest rates hikes to come and slower corporate earnings in the latter part of this year, as well a possible recession.



Even with the rally, the S&P 500 is still off 11% this year, while Alphabet, Amazon and Tesla have fallen 19%, 17%, and 16% respectively. And while corporate earnings have been more solid than expected, those earnings are only predicted to rise about 8% as opposed to last year’s 47% jump. While some investors are taking the strong corporate earnings as a sign to buy stocks, others are taking a cautious approach with the belief that stocks are being overvalued.

And not all signs point to a sustained rally: companies climbing to their 52-week highs have only reached levels from early 2022, which is still nowhere near where they were in 2021. Many strategists watching the S&P 500 see its 200-day moving average still on a downward trend. “…the market has gotten a little bit ahead of itself in the very short term and needs to digest these gains,” Jeff Buchbinder of LPL Financial told The Journal. Once the S&P 500 cracks through its 200-day moving average, the market will open wider.

———————————————

Validea runs stock and ETF models based on investment strategies with proven long-term track records. If you’re new to Validea, consider taking a look at our product overview or introductory videos.

———————————————



Source link

Previous Post

Broker-Dealers Are Living in the Convergence of Wealth and Retirement

Next Post

Morgan Stanley Pays $35 Million SEC Fine Over Data Security

Next Post

Morgan Stanley Pays $35 Million SEC Fine Over Data Security

Recommended

Mindy Diamond: Former $2B J.P. Morgan Team on Their Move to Cresset

5 months ago

Supreme Court to Decide Calculation of Penalties for FBAR Violations

3 months ago

wealth-01

© 2022 Wealth News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Management
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Management
  • Contact

© 2022 Wealth News Hubb All rights reserved.