The market was an absolute bloodbath on Thursday. People have been hoping and wishing for a Santa rally, but I’ve been saying for a while now that if you’re looking for a meaningful bottom…
We’re not going to get one until 2023. This market is in a bad way with so many headwinds blowing against it.
You have the Federal Reserve, the European Central Bank and the Bank of Japan all tightening up monetary policy… leading to a market that’s always on thin ice. Seasonal buying patterns you often get around Christmas just don’t hold up in times like this, when everything is getting crushed.
Check out this chart — and all of those tradable short signals from my guy Lance Ippolito’s Master Indicator — of the Invesco QQQ Trust Series 1 (Nasdaq: QQQ), which tracks the Nasdaq 100, down 3.8% by 1:20 p.m. ET on Thursday…
It will be an interesting final week of the year and an even more interesting beginning to 2023. So the question is…
What do we have to look forward to?
Believe it or not, we have a lot… and I see an unbelievable opportunity coming up next week. Check out my video up top, and let’s discuss fading some of the worst stocks in the Nasdaq this year and how that could pay off in short order.
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*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
P.S. Breaking News: Gas Prices Have Bottomed Out and Are Set to Surge Higher
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