February 27th 2022 |
- No fundamental reason to change our cautious strategic outlook
- Latest bounce still looks quite corrective in its nature
- Stay on the sideline since the current risk-/reward ratio looks too low to justify any kind of bargain hunt at the moment
Market Review |
After dropping to new lows, major indexes strongly bounced at the end of the week. In the end, U.S. stocks finished a volatile week with a mixed performance. For the week, the Dow Jones Industrial Average lost 0.1% to close at 34,058.7. The blue-chip index posted its third-straight losing week despite the two-day surge, however. The S&P 500 advanced 0.8% in the same time period to finish at 4,384.65. The Nasdaq increased 1.1% to close at 13,694.62. Most key S&P sectors finished higher, led by health care. The discretionary sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded lower, near 27.6.