by Lance Roberts
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| (12/5/22) Markets broke above the 200-DMA following last week's speech by Fed Chairman Jerome Powell, which included somewhat dovish language. But markets moderated somewhat on Thursday, touching the 200-DMA and then sold-off. Encouraged by a stronger-than-expected Payrolls Report, markets broke back through the 200-DMA, but rallied again and essentially closed un-changed. All of these gyrations provided a successful test of the 200-DMA. If resistance that this level is to be turned into support, we need a retest and breakout to the upside. Futures are weaker this morning, interest rates are climbing, and the dollar is continuing to decline. And if the pattern follows, a weaker Dollar signals a stronger market, which the Fed does not want. Bullish technicals continue, and our target remains 4,100 on the S&P. Now is the time to readjust portfolios, do tax-loss harvesting, if necessary, and use any rally to rebalance risk. Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton -------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to RIA Pro: https://riapro.net/home -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #BullMarket #200DMA #FederalReserve #InterestRateHikes #MarketSupport #MarketRisk #Markets #Money #Investing |
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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