Update to Stock Charts

Plenty if volatility in the markets at this time. Some updated charts below.  First chart is the asset class performance on a year to date basis, which includes Gold, Bonds, S&P 500, and Bitcoin. Gold has been an outperformer year to date so far versus other assets.

This next set charts include Axsome Therapeutics, and Cybin, both companies we have wrote about before.  Displayed as 60 minute charts.

Thank you for reading.

2023 Asset Class Performance - 2nd Quarter

With the 2nd quarter of 2023 just completed, a quick check on the performance of different assets, have returned to date. Cryptocurrency, including bitcoin and ethereum, along with stocks put in a strong first half performance, chart below. All five assets tracked were in positive territory. Click on chart for larger image. Thanks for reading.

 

2023 - Asset Class Performance

A quick look at a two week chart of returns for some of the major asset classes; stocks, bonds, gold, ethereum, and bitcoin. Easy to see in the chart below, all five of those asset classes have appreciated quite substantially in the first two weeks of 2023.

     

Are the markets factoring in tame inflation (CPI readings) moving forward, and the federal reserve halting or reversing interest rates over the next few months?  That seemed to spark the rally in assets, after the latest CPI reading. That assumption may be early, and why monitoring the monthly inflation data, will be important. Thank you for reading.

Market Correction

The S&P 500, has now sold off -29.84% from the all time high achieved just a month ago. The sell-off categorizes it in bear market territory. By looking at the chart below of the S&P 500, the support line from the 2018 December low is just a few percentage points lower, to the price of around 230. Let's see if that prior correction low of December 2018 provides support for this market.







Buying the Dips

Since the March 2009 low, there have been 3 market corrections, with the current correction being -13.43%, high to low from April 26th to May 21st.  Buying the dips has been a very profitable strategy so far during these corrections as the market has made new highs later.

As long as we do not breach the 2010 low on the S&P 500 of 1044 the upward trend could still be maintained.  We are currently 3.95% higher from that yearly low.

At this time, the market pullback has created some potential opportunities in beaten down stocks.  Any buying of stocks will have to be done with risk controls in place in case the selling continues. Overall, I do feel there could be more downside for stocks in the weeks to come.  Thank you for reading.