What January Foreshadows About the Stock Market
Yesterday, the Russell 2000 ETF (IWM) is rallying +1%, showing that some investors are still taking risks.
Meanwhile, the SPDR S&P 500 ETF Trust (SPY) is holding back.
This tells me that the market does not have a clear rally path.
However, the Invesco QQQ Trust Series 1 (Nasdaq: QQQ) has room to move to the 365 level before running into technical resistance.
Notably, Google’s stock has remained at a standstill ahead of its earnings announcement this week.
Investors everywhere are starting to wait on the sidelines.
Nobody knows what’s going to happen next so the majority are choosing to do wait and see what happens before making investing their money.
Will this bearish sentiment linger for the rest of the year, or will the bulls make a comeback?
No matter what happens, I’ll be here to show Penny Hawks how to position themselves for the biggest profits.
Until next time,
Chris Johnson
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January 31 2022
