My younger self would maniacally laugh at the classic “Are we there yet?” scene from the Simpsons and then subject my parents to the same torture on our road trips. So, it’s only fitting that the S&P 500 (SPY) is torturing us in a similar way. After the FOMC meeting, the bullish reaction and explosion higher made it seem likely that a low was in, and the bullish trend and seasonal forces would take us higher. After today, this seems less certain. Today’s commentary will dive into this conundrum and then review some of the sectors showing favorable developments. Read on below to find out more….(Please enjoy this updated version of my weekly commentary published December 16, 2021 from the POWR Stocks Under $10 newsletter).
Since last Thursday, the S&P 500 is basically flat, but it’s still felt like sellers have remained in control.
This is because other measures are painting a much different picture. Small-caps are down 3% over the last week, while there has been bigger pullbacks in certain pockets of the market.