Technically, the stock market doesn’t look so hot right now, will that break below 4100 in the s&p 500. But fundamentally, there are some strong signals coming from consumers and data about the economy. Let’s bring in pro Joe Tigay of Equity Armor Investments. Joe, what do you see happening in the market this week? Technically, versus fundamentally
Yeah. That’s a great question has really been about the story all year long, you know, the experts and everyone was talking about in January. Well, the technicals in the market will great I’m not sure the fundamentals the economy support this that’s been flipped on its head right now where the fundamentals look really good effect what the job summer, January, that was the retail sales number in January. Really good economic numbers get the market is starting to fall. So for me, it’s all about interest rates as those interest rates rise.
Those tech stocks and those high growth stocks had hit in January interest rates expectations were coming down in New South and the performance on the growth side.
Is that measure of uncertainty in the market is on the rise.
What does that signal for traders?
This is on the rise it’s really impressive to hit the trendline right about it at that goes back all the way to 2017. We’ve been having higher lows in the VIX, watching metro line and hit that it seemed like a critical spot for the except that we’re going to break below it. Maybe the narrative that the bear market is over would have had some more weight to it now that we’re bouncing off of it. It puts a lot of people back in the camp. of this is just a fair market rally. and we’re going to have a lot more downside down. Thank you so much, Joe, thank you for letting me put a business birthday on.com for where to see our show on TV.