The Stock Market Kind of in No Man’s Land Right Now

Tom Gentile

Posted in
Technical Analysis

By: Tom Gentile
December 20th, 2022

1 min read
Figure 1: 75-day Candle Chart on SPY
Figure 1: 75-day Candle Chart on SPY

The markets have been in what one can deem a bear or at least a bearish market, which it hasn’t seen in a decade at least.

There have been bearish periods of time within a year, such as when COVD was at its initial onset concern, but the markets proved resilient enough to bounce back and climb higher.

Not so resilient this year.

Year-to-Date the Dow Jones Industrial Average is down 9.6%.  The NASDAQ is down 32.58% and the S&P 500 is down 19.82%.

Though the equities markets are up off their October lows, the recent rollover has the chance to retrace to those October lows and from there even lower.

Should, however, the markets find buying support and a price or Fibonacci retracement zone support that bearishness may not come about.

Figure 2: 75-day Candle Chart with Fibonacci Retracement View
Figure 2: 75-day Candle Chart with Fibonacci Retracement View

App: Toms Option Tools

Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.

Other times I will have other charts may work to amplify my educational points. 

Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.

Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.