As of the close of Friday, we are experiencing the third consecutive negative monthly candles, and the S&P 500 closed at -13.73%. As of now, futures are pricing in another leg down.
After a few weeks from the first comments by the American president stating that he is not watching the market, my takeaway is that he actually expected and understood the enormous downward pressure that was coming.
We are approaching an area of support. Of course, with the VIX over 50, we can move quite quickly in both directions. Understand that nobody can predict future stock market prices with certainty. On the other hand, panic is near. What I don’t know is whether prices will be higher or lower six months from now.
Here you can find an Excel file containing the best-performing stocks year-to-date (YTD). Out of a list of 506 stocks, 126 are positive YTD as of the close of last Friday and a Short Squeeze Indicator.
To my surprise, BRK is positive year-to-date (YTD).
Oversold index futures:
