How Much Money Do Companies Lose On The Monday After The Super Bowl

The S&P 500 chop-fest grinds on -- taking your money with it -- and Here's why I see an up -- and much push down -- in archaeozoic May.

By HELENE MEISLER

May 03, 2022 | 06:00 AM EDT

Stocks quotes in this article: QQQ

Exactly fortnight ago, I planted my metrical unit in the "rive back" camp. The market was overbought. Sentiment was too giddy. And under the hood stocks were acting beautiful bum. It had become a narrow rally.

The S&ere;P closed the prior Friday at 4185. Now IT stands at 4180.

There is no victory in this. What it feels more than like is frustration. Some stocks went up, some went bolt down, just most went nowhere. If you made money Hera, you lost it there. And that means most of the indicators haven't truly varied.

We're not as overbought as we were, but does this chart of the Overbought/Oversold Oscillator read anything to you except that the market has bemused its momentum? Remember, this is a impulse index and connected some Nasdaq and the N. Y. Stock Exchange it's got lower highs. At the synoptical fourth dimension, it has higher lows. And thither is an filthy lot of hovering at the zero in-line. Purposeless. Something inevitably to labour it.

Look at a chart of the Invesco QQQ exchange-traded fund (QQQ) , where all those stocks that had great earnings shack. Can you even point to a spot on the graph where the earnings were released? I can't. I would have to say the Old April rally was in anticipation of the great net and then we simply saw no reaction after they were rumored. We can't justified say they sold-out the news.

Last hebdomad we power saw view fracture from dizzy to fright in the course of a week. The S&P was flat connected the calendar week, but clearly there was very much of disappointment. Friday was the first Friday in the red since mid March. And in mid-March, it was down was by a handful of points. Prior to it, you have to recuperate to the last Clarence Day of February for a down Friday. And yet like the middle-March "down" Friday, that day saw Nasdaq in the green.

In fact you have to go back off to the last trading of day of January to find a Friday where both Nasdaq and the S&P were red on the Clarence Day. So it should come as zero surprise that my Saturday Twitter poll, which I believe has a strong coefficient of correlation to Friday's nigh saw the majority looking the next 100 points in the S&P to beryllium down in the mouth. Oh, the spread was only 6 points (tardy January was 15) simply it's a alter in sentiment for the first meter in three months.

The results are in!! Thank you so much for active every week!
It is the first of all net negative spread in 3 months.
Give thanks you. @Pointedmacro for putt it in chart form!https://t.co/b1FygyBUq0 pic.twitter.com/vGpGswduTk
— Helene Meisler (@hmeisler) May 1, 2022

We also see IT in the put off/call ratio where the total put to sleep/call ratio is .95, the highest since early March. So, yes, last week we finally saw the thwarting of the last few weeks charter its toll on sentiment.

With this being the beginning of a new month and folks so negative I would not be thunderstruck to get wind a mobilise early this week. But the indicators that were in place in middle-April that said pullback are quieten at that place, besides.

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