Never bet against global markets. Those who did always lost a lot of money. Markets are extremely unstable since the beginning of 2022. On Nasdaq (QQQ) the SMA 200 has just been broken and prices did not bounce on it. When prices don't bounce on important levels it's usually a sign for major crisis (Covid 2020, 2008...) especially when retracements happen at high volumes.
Russels 2000 is confirming its decline since November 2021 and has reached levels close to those of January 2021 (around 200). Index has sided for 1 year, but Friday, the one year long support was broken.
Dow Jones, also declined close to a technical broadening formation as shown in the graph above.
SP500 closes in to the SMA 200.
In particular, US sectors and industries are almost all in red with exception of XLP (consumer staples) that closed on a +0.08. XLU (Utilities) is starting to decline after a great resilience up to util now.
Sector wise, XLK (Tech Sector) is declining with a broadening formation like the graph shown in the diagram above.
GNX in the only industry holding its grounds but it is also declining. SGNX (Oil) keeps being immune to current situation.
On the other hand, BIOTECH SPDR S&P BIOTECH ETF recorded a -48% decline. This never happened. It's the maximum drawdown ever.
Volatility since 5th of January has almost remained above the 20 mark. Gold is stable and increasing.
Long term investors should not be concerned although the market may go down to Covid price areas and may take years to recover.
STOXX600 is doing better wrt S&P500. European instruments are not suffering as much to American sectors and Industries as discussed above.
Russels 2000 is confirming its decline since November 2021 and has reached levels close to those of January 2021 (around 200). Index has sided for 1 year, but Friday, the one year long support was broken.
Dow Jones, also declined close to a technical broadening formation as shown in the graph above.
SP500 closes in to the SMA 200.
In particular, US sectors and industries are almost all in red with exception of XLP (consumer staples) that closed on a +0.08. XLU (Utilities) is starting to decline after a great resilience up to util now.
Sector wise, XLK (Tech Sector) is declining with a broadening formation like the graph shown in the diagram above.
GNX in the only industry holding its grounds but it is also declining. SGNX (Oil) keeps being immune to current situation.
On the other hand, BIOTECH SPDR S&P BIOTECH ETF recorded a -48% decline. This never happened. It's the maximum drawdown ever.
Volatility since 5th of January has almost remained above the 20 mark. Gold is stable and increasing.
Long term investors should not be concerned although the market may go down to Covid price areas and may take years to recover.
STOXX600 is doing better wrt S&P500. European instruments are not suffering as much to American sectors and Industries as discussed above.