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It Was a Bear Market Rally, After All | 3:00 on Markets & Money

(9/1/22) Cheerleaders singing the praises of a bear market bottom, bullishness abounding, and high prices for equities were back...were wrong. Turns out it was a bear market rally, after an assault on the 200-DMA failed. Breaking the 50-DMA confirms the diagnosis of a bear market rally, indeed, as the same pattern we've seen for this year continues. The markets' over-sold position provides an opportunity to rally. Today will begin on a weaker footing, and September, remember, is typically a weaker trading month. One silver lining--the volume in selling has been a little weaker than normal, which would be a sign of exhaustion by sellers. We're suggesting using any rally at this point as an opportunity to reduce equity risk in portfolios, and raise a little capital.
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Lance Roberts
Finally, financial news that makes sense. Lance Roberts, the host of "StreetTalkLive", has a unique ability to bring the complex world of economics, investing and personal financial wealth building to you in simple, easy and informative ways but also makes it entertaining to listen to at the same time.
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