7/1 Recap. Market In No Man's Land

Down only 2% on the week vs 4.2% on the QQQ

Sorry for late post, we were traveling today, and of course, delayed as always. I can’t believe how awful internet is on planes in 2022, opening Think or Swim shouldn’t be so difficult onboard but American Airlines has internet that only wishes it was on par with 56k from the 90’s.

Let’s talk about this week, Im pretty happy with my performance, I will go over it below, finished the week down just under 2% with the overall market down 4.2% on the Nasdaq. Overall once again, nothing significant on the weekly chart, still below most of the moving averages, but above the 200 week. Just kinda floating around without any real direction. We have Fed minutes next wednesday which should give us direction, but it feels like the Fed is going to have to reverse course soon. We likely just entered a recession, that is 2 straight quarters of negative GDP, unless by some miracle they avoided it in Q2, I just don’t see how. Have a look at the chart below to see what I was saying.