Market Report for Jun 17 2022
Growth is plaguing both stocks and economies. Central banks are trying to get around the looming inflation, although for many it already feels like it is here, even if the numbers are not officially indicating it. Many central banks are raising the key interest rate with BoE now having raised it 5 times consecutively.
The markets are still volatile and volume is up with prices breaking support. Add to that earnings not long from now and we still have the veil of uncertainty surrounding the market.
As I mentioned in TRC yesterday, the markets were setting up for further weakness and we saw that appear during the session.
This is still the time to stand aside or short certain areas of this market.
Let’s go trade!