Will a Hold at the 50-DMA Level Continue?

(8/30/22) With markets in an over-sold on multiple levels, a rally was due, and markets did on Monday test the 50-DMA and bounced, almost rallying to break-even, before slipping back to the close. Markets actually posted a "green candle" for the day. Tuesday morning futures are pointing higher, as a prelude to an attempt at a bounce, with the potential to get back up to the 20-DMA. We will likely see a rally that is sold-into. A rally to reverse the over-sold condition is needed if the sell-off is to continue. A hold at the 50-DMA level will continue the upward trend and allow the bulls a little more room in which to work. We're suggesting using any rally to sell-into and raise some cash, because there is still risk to the downside.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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