Market Report for May 19 2022
Wednesday was an important day for our assessment which had a heavy sell-off session. Price for the main markets are still between a resistance and support level but certainly very much bearish.
Each of the major indices dropped at least 3.5% amid the inflation concerns. All sectors ended the day in the red and did most stocks.
We are still mainly standing aside holding cash and watching but have opened a short position on a stock yesterday.
Let’s go trade!