Market Report Sep 27 2022

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Market Report for Sep 27 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Another red day but some relative strength in mega-caps did help limit the losses on Monday’s session.

While many stocks may appear oversold, this is more of an accurate hindsight interpretation. Just because an indicator shows as oversold, does not mean the market will abide by that reading and turnaround. So use caution when using overbought/oversold indicators. They offer little to no edge.

So how are we dealing with this market? This month we have trimmed our book and since then have been patiently waiting for signs of strength or weakness to appear alongside our trade set ups.

Let’s go trade!