March 13th 2022
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Key Takeaways
- No fundamental reason to change our cautious strategic outlook from January 16th
- Sentiment hits extreme negative levels, thus, the risk for oversold bounces are accumulating
- Stay on the sideline since the current risk-/reward ratio looks too low to justify any kind of bargain hunt at the moment
- New high in our WSC Inflation Proof Retirement Portfolio
Market Review |
U.S. stocks finished another week in negative territory. The Dow Jones Industrial Average declined 2.0% during the week to end at 32,944.19. The blue-chip index posted its fifth consecutive weekly decline. The S&P 500 Index dropped 2.9% from the prior Friday's close to finish at 4,204.31. The Nasdaq tumbled 3.5% during the week to 12,843.81. The S&P 500 and Nasdaq booked their third straight week of losses, their longest slide since December 2018. Nearly all key S&P sectors finished lower, led by staples. The energy sector was the only gainer. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 30.8.
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