bullish
Weekly Stock Bullfinder- Week of 5/2
SUMMARY
- 2022 goes in the books as the worst start to a calendar year (through April's close) in the S&P 500's history; down roughly -13.3% which broke the previous record was 1970's 4-month decline of -11.45%.
- The SPY, Nasdaq, and QQQ indexes remain firmly below their 10WK/30WK moving averages as the corrective action continues.
- After Big Cap tech reported last week, we are officially now in the stage of the market correction where the indexes are seeing downward pressure due to their outsized weightings in the broader market indexes.
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