Can Stocks Maintain a Rebound?

(8/24/22) As predicted, markets finished lower on Tuesday, violating the 20-DMA and setting up markets for a moderate rebound today. 4,160 will be the new resistance level. If sell-signals remain in place through the end of the week, that will suggest more weakness in markets, and more downward pressure on prices. A sharp reversal in over-sold conditions, and reduction of money flows, indicates a reversal of bullish sentiment. Breadth has been narrowing, and the recent sell off has been swift. The range we're targeting is 4,000 to 4,160 as we head into the Jackson Hole summit. September is traditionally a weaker month, and a pullback here would tend to set markets up for stronger performance at the end of the year.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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