Photo by Markus Spiske / Unsplash
2 weeks ago when the U.S stock market started a mini-rally (27 May 2022), I suspected it was a bear-market rally driven by profitable short-sellers covering their shorts. After 7 down weeks, short-sellers would be looking for an excuse to take profit. S&P500 suffered a mini-crash this week dropping 5.05% and it was the worst week of the year since January. This market action showed that it was indeed a bear-market rally.
Take a look at the U.S stock indices in the table below.
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Take a look at the internal market statistics of the U.S market.
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Take a look at the internal market statistics of individual U.S sectors.
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Only the energy sector looks healthy....