bullish
Weekly Stock Bullfinder- Week of 5/16
SUMMARY
- I mentioned a few weeks ago that the current market correction would likely begin to pickup speed when the mega caps like Apple and Microsoft began their corrections and re-rated lower below their 200 day moving averages like most of the Nasdaq index.
- On Friday, we saw a significant bounce off extreme oversold conditions but many charts still need significant time to base and repair themselves.
- If we are truly entering a new bear market, relief bounces like these will become common which is something investors likely haven’t seen in awhile after years of “buy the dip” bull market mentality was in full force.
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