Market Report for May 25 2022
Monday welcomed the week with a tone of happiness but any joyful feeling was wiped off the market on Tuesday with weakness in mega-cap stocks based on continued concerns of economic slowdown and possibly growth in earnings for this year.
The chart below shows the hesitant and non-directional day for the S&P 500 and Nasdaq Composite, although the Dow Jones Industrial Average did manage to close the session singing a slightly different tune.
SNAP had a dismal day and warned of Q2 revenue. This might have had a knock-on effect on some other social media companies which also saw some weakness.
Overall, the market is still in a state of bewilderment and we are waiting for our opportunities.
Let’s go trade!