Market Musings
At last, the year is over ... hopefully, 2023 will be better.
However, the FED still wants to raise interest rates and that
will hinder any attempt for the economy to gain traction.
Shadow Government Statistics suggests the Biden Administration
economic reports are incorrect.
Other significant downside factors are the downturn in housing, continued supply chain problems, diesel
shortages, increasing pilot union demands and tech
company layoffs.
Not only the U.S. but the world is headed towards a
significant period of negative growth.
Dare I say that it will be
at least another year of dismal U.S. and world economic growth.
And that is if we don't enter a major military war with either
Russia or China.
Until Congress stops spending deficit dollars, the outlook is
bleak. The dollar is starting to show signs of weakness .. it will be just a matter of time before its value
craters.
Do not be surprised if the NASDAQ falls through 8,000, the SPX
to 2,500 and the
DJIA sees the 25,000 level.
The Acc/Dis line of "A" rated stocks has bounced of the red line
suggesting that the market is attempting to rally.
Remember -- "Only purchasing power counts!"
It is difficult to find long-term trading opportunities with the
future so uncertain. By any reasonable measure, this market is
dangerous.
Be careful ....
To review the 01/13/2023 FlowChart, click
here.
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